“Genworth and Oceanwide Extend Merger Agreement,” Advisor Magazine

“Genworth Financial, Inc. (NYSE: GNW) and China Oceanwide Holdings Group Co., Ltd. (Oceanwide) today announced they have agreed to a sixth waiver and agreement of each party’s right to terminate the previously announced merger agreement. The sixth waiver and agreement extends the previous deadline of August 15, 2018 to December 1, 2018 to allow additional time to complete the regulatory review process. … Added LU Zhiqiang, chairman of Oceanwide: ‘I am pleased with our progress to date and look forward to closing the transaction, which will bring financial stability to Genworth’s businesses in the U.S. and allow us to export Genworth’s insurance expertise and insurance solutions to China.’”

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

If at first you don’t succeed, try, try again.

Genworth and Oceanwide Extend Merger Agreement

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