Genworth Financial (GNW) volatility flat into deal with China Oceanwide
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Genworth Financial (NYSE: GNW) announced its acquisition by China Oceanwide for approximately $2.7B, or $5.43 per share. The mortgage insurer also secured $1.1B in a separate capital infusion from the Chinese group as it looks to offset nearly the same amount in special charges for the quarter. GNW October call option implied volatility is at 47, November is at 70: compared to its 52-week range of 49 to 110.
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