...in hopes of SEC approval of the divestiture of MET's banking assets.
They've expressed desire to buy back shares & increase the divvie & been turned down due to their status as a "bank" & if GE is allowed to buy these assets then they have plenty of cash to do both!
I'm long AFLAC & MET looks like an even better value.
I have a 5 to 10 year horizon on this & will watch the fundamentals closely in case an early exit is warranted...
My bad; I meant FDIC but for some reason had SEC on the brain.
I'm also aware that the newly structured sale is proposed for GE Capital Retail Bank which changes the regulatory approval body to the OCC which is expected to be more amenable to the deal (time will tell...)
Thanks for the correction!
Let's keep this forum active.