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The insurer’s stock has consistently been above its initial $19-per-share price, unlike those of the mortgage originators who recently went public.
June 21 -
The transaction could raise as much as $306 million in gross proceeds.
September 13 -
Stock prices for the four stand-alone MI companies have declined significantly since the start of May.
May 13 -
After the spinoff and a concurrent private sale to Bayview Asset Management, Genworth Financial will still own 80% of the rebranded Enact.
May 4 -
The inevitable cancellation of the takeover transaction by China Oceanwide means Genworth will be spinning out a portion of its U.S. mortgage insurance business.
April 6 -
While the agreement with China Oceanwide still remains in place, there was no formal extension of the Dec. 31 deadline.
January 4 -
The parties are looking at having the deal done by the end of 2020, once China's currency regulator agrees to the transfer of funds.
November 30 -
China Oceanwide said it was not able to meet with Hony Capital to finalize the terms and conditions because of the pandemic.
October 1 -
Neither side opted to invoke their Aug. 31 termination rights and the deal is set to close by the end of September.
September 1 -
Most of the proceeds will be used to deal with debt maturities, with the rest held by the MI unit's parent.
August 21