Genworth/Oceanwide a Done Deal

Discussion in 'Long Term Care Insurance Forum' started by Arthur Rudnick, Jun 5, 2017.

  1. Arthur Rudnick
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    Arthur Rudnick Moderator Moderator

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  2. Mr_Ed
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    Mr_Ed Well-Known Member

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  3. yankee466
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    yankee466 Well-Known Member

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    Wishful thinking? ;)
     
  4. Arthur Rudnick
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    Arthur Rudnick Moderator Moderator

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    previously posted by Mr_Ed

    I stand corrected. I thought it was an update.
    Do you know if the SEC & the State Regulators have approved of the sale?
     
  5. Hybrid_Chick
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    Hybrid_Chick New Member

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    I assume everyone has now seen the delay on this? I'm new to this forum, so I cannot provide a link yet. However, a simple Google search of Genworth Oceanwide deal will result in multiple sites have the same story that broke late last week. Insurance Business Review, Richmond Times, Markets Insider, Think Advisor, etc…

    "Genworth reported that it and China Oceanwide have withdrawn and refiled the voluntary notice they sent to the Committee on Foreign Investment in the United States. The move should extend the committee's review period by at least 30 days, and possibly by 75 days"......

    "The completion of China Oceanwide’s $2.7bn merger deal with Genworth Financial is likely to be delayed further, owing to a regulatory obstacle. In this connection, the two companies, have for the second time, withdrawn and re-submitted their joint voluntary notice with the Committee on Foreign Investment in the United States (CFIUS)"
     
    Last edited: Jul 18, 2017
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