Goldman Sachs Merchant Banking to acquire People for $887m.

Goldman Sachs Merchant Banking agreed to acquire People, a provider of group benefits, group retirement and human resource services, for $887m. "This transaction is an excellent opportunity for People Corporation’s shareholders, and for the Company’s clients, partners, employees and other stakeholders. The Transaction recognizes the value of People Corporation’s growth, success, and long-term track record of delivering shareholder returns. The Purchase Price represents a significant premium to both current and historical trading prices for People Corporation’s shares. We are confident that the partnership with Goldman Sachs will enhance the Company’s ability to pursue its long-term vision and ensure that People Corporation continues to be a leader in the industry," Scott Anderson, People Chairman.