“Genworth Ends China Oceanwide Merger Agreement,” by Allison Bell, ThinkAdvisor

“Genworth Financial Inc. announced Tuesday that it has officially ended efforts to be acquired by China Oceanwide Holdings Group Co. Ltd. … In January, the companies shifted to using a merger agreement with no expiration date. Genworth said it has decided to end the merger agreement, rather than sticking with the open-ended agreement, to simplify efforts to carry out the company’s strategic plan. Part of the plan involves selling a stake in a large mortgage insurance subsidiary to investors, through a partial initial public offering.”

 

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

Unsurprising given the current state of international affairs, but no doubt a big disappointment to the Genworth team.