|Day's Range||4.03 - 4.11|
|52 Week Range||2.26 - 5.27|
|PE Ratio (TTM)||-7.24|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
China Oceanwide Holdings Group Co said on Friday it had refiled its application for U.S. approval of its $2.7 billion acquisition of life insurance company Genworth Financial Inc, in a bid to add more time to the regulatory review. The two companies said they withdrew and relaunched their submission to the Committee on Foreign Investment in the United States (CFIUS), a secretive U.S. government panel that scrutinizes acquisitions for national security concerns. Genworth's and China Oceanwide's refiled CFIUS application triggers a new 30-day review period by the government body, with the possibility of a further 45-day investigation period, the statement added.
Genworth will seek approval to change the way it prices long-term insurance. What will it mean for consumers and carriers?
(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.)