Genworth Financial: Lack Of Financing Threatens The Deal [Seeking Alpha]
Genworth Financial Inc (GNW)
Last genworth financial inc earnings: 10/29 05:10 pm
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US:NYSE Investor Relations:
genworth.com/corporate/investors.html
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Source: Seeking Alpha
SummaryGenworth and Oceanwide just agreed to a 14 merger extension due to lack of financing.The parties need to secure approximately $1.4 billion dollars in order to close the transaction by the June 30 End Date.As a standalone, Genworth is worth less than the $5.43 per share consideration price but has enough cash to remain a going concern in the event the deal fails.Anything that can go wrong, will go wrong. This timeless adage is most befitting to the current state of Genworth Financial (NYSE:GNWThe stupendous number of extensions is testament to all that has gone wrong since the merger was first entered into back in October of the year 2016. First, the deal was extended 4 times over the span of 20 months so the parties could focus efforts on assuaging CFIUS's national security concerns. Following CFIUS approval, the parties, curiously, decided to shift focus on states' insurance regulatory approval, taking another 7 months and 3 extensions to secure all necessary approvals. Next,
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News
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GNW
Sec Filings
- 12/4/25 - Form 4
- 12/2/25 - Form 144
- 11/25/25 - Form 4
- GNW's page on the SEC website