Arthur Rudnick
Guru
- 1,652
11/29/17 Dow Jones Institutional News
Genworth and China Oceanwide have agreed--again--to further extend their merger agreement. From the previous deadline of Thursday, they are now poised to wrap it up by April 1. Analysts say the deal has run into resistance in Washington over the protection of client data, and the companies have been looking at novel ways to help regulators get comfortable. "We are making good progress in our discussions with a US third-party service provider about proposed mitigation approaches, which justified the merger agreement extension, and we expect to refile our joint voluntary notice with the Committee on Foreign Investment in the United Stated ( CFIUS ) in the near term," Genworth CEO Tom McInerney says.
Genworth and China Oceanwide have agreed--again--to further extend their merger agreement. From the previous deadline of Thursday, they are now poised to wrap it up by April 1. Analysts say the deal has run into resistance in Washington over the protection of client data, and the companies have been looking at novel ways to help regulators get comfortable. "We are making good progress in our discussions with a US third-party service provider about proposed mitigation approaches, which justified the merger agreement extension, and we expect to refile our joint voluntary notice with the Committee on Foreign Investment in the United Stated ( CFIUS ) in the near term," Genworth CEO Tom McInerney says.
