Oceanwide Financial and China Oceanwide Holdings Group will delay their planned merger until 30 November, following a "lack of transparent feedback or guidance" from Canadian regulators over the sale of Oceanwide MI Canada. Oceanwide said the lack of progress had forced it to consider "strategic alternatives" for MI Canada to avoid the need for Canadian regulatory approval for the Oceanwide merger. Oceanwide said it was keen to close the Oceanwide merger to bring "certainty" to stockholders.
Genworth Financial and China Oceanwide Holdings Group will delay their planned merger until 30 November, following a "lack of transparent feedback or guidance" from Canadian regulators over the sale of Genworth MI Canada. Genworth said the lack of progress had forced it to consider "strategic alternatives" for MI Canada to avoid the need for Canadian regulatory approval for the Oceanwide merger. Oceanwide said it was keen to close the Genworth merger to bring "certainty" to stockholders.