Genworth Focusing On ‘Contingency Plan’ As Merger In Limbo
January 13, 2021 by Wire Reports
Genworth announced today it will focus on a “contingency plan” as another deadline for finalizing its merger with China Oceanwide Holdings Group came and went without an extension.
Given uncertainty around the completion and timing of the remaining steps required to close the transaction, Genworth and Oceanwide have not extended the current Dec. 31, 2020, “end date” under the merger agreement, Genworth said in a news release on its website. The deadline to complete the merger already has been extended 16 times.