Empower Buys Prudential Retirement Assets For $3.55B
Empower Buys Prudential Retirement Assets For $3.55B Empower Retirement's acquisition of Prudential's full-service retirement business is making it more competitive with Vanguard and Fidelity. In deal valued at $3.55 billion, Empower Retirement is buying Prudential Financial’s full-service retirement business, the firms announced on Wednesday. Prudential expects to receive total proceeds of approximately $2.8 billion from the deal. Empower, the second largest player in the retirement plan record-keeper space behind Fidelity, will receive Prudential’s defined contribution, defined b...
Source: wealthmanagement.com