S&P Places Genworth Financial (GNW) Ratings on CreditWatch Developing Amid Merger Agreement
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China Oceanwide To Acquire Genworth Financial
October 23, 2016 6:00 PM EDTRICHMOND, Va. and BEIJING, Oct. 23, 2016 /PRNewswire/ -- China Oceanwide Holdings Group Co., Ltd. ("China Oceanwide") and Genworth Financial, Inc. (NYSE: GNW) ("Genworth") today announced that they have entered into a definitive agreement under which China Oceanwide has agreed to acquire all of the outstanding shares of Genworth for a total transaction value of approximately $2.7 billion, or $5.43 per share in cash. The acquisition will be completed through Asia Pacific Global Capital Co. Ltd., one of China Oceanwide's investment platforms. The transaction is subject to approval by Genworth's stockholders as well as other closing... More
