Genworth Financial Acquisition by China Oceanwide 2016

Genworth Financial announces its acquisition by China Oceanwide for $5.43 per share in cash, valuing the transaction at approximately $2.7 billion. China Oceanwide commits $1.1 billion in additional capital, with closing expected by mid-2017 subject to regulatory and stockholder approvals. Genworth will operate as a standalone subsidiary with headquarters remaining in Richmond, Virginia.