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Genworth Financial, Inc. (GNW)
NYSE - NYSE Precio demorado. Divisa en USD
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Al cierre: 4:00PM EDT
0,02 (0,65 %)
Después del cierre:
758 reacciones a Conversación de $GNW
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Genworth Financial, Inc.
Yesterday's price action was interesting from this risk arb traders viewpoint because it was what I call a "Watershed" day. Where all stops are busted and all weak hands are washed out, with all those shares going to the smart money.
This phenomenon happens commonly on risk arb plays as we approach the closing event.
I.E. saw it myself recently with Sprint, among others I've landed in the past, like TWX, ROC, and CAB.
On my 22 point checklist of what to look for in a risk arb play, Watershed is but one point.
Another is Management Commitment (from both parties), even despite incompetent mgmt such as $GNW has...
In the past few weeks (8-31 and 9-16), the only actual news, in the form of PRs, has stated that positive work is being done to complete the merger on time, this is valid commitment being shown, also Dealreporter's reporting confirmation has helped...
2 good signs, both holding their checks....
Now, if only China Oceanwide can find their wallet, and soon, we done here....
Holding long, waiting, watching, as Jesse Livermore stated, the money is made in the waiting...
gotta love how a $2.20 bet on 1 share of $GNW at the end of close of the stock market casino is just like making a +246 bet on this deal being done in a vegas casino
Genworth Financial, Inc.
From $GNW IR just now on question of when Canada regulators began merger review:
From: "GNW, InvestorInfo (Genworth)"
Date: 3/4/19 11:22 AM (GMT-06:00)
Subject: RE: Merger update?
Hello – apologize about the delay in responding. We disclosed in early 2017 that all of our regulatory filings had been submitted – including those with the Canadian regulator. Over the last 2 years we have modified the merger agreement including issues relating to unstacking legal entities, the acquisition funding sources and the capital commitment considerations. We continue to work with the Canada regulator and hope for a resolution soon.
AH buyer is persistent...just took $GNW not only positive but to the high of the day
$8.00 by December, easily!
China Oceanwide To Acquire Genworth Financial
- $5.43 Per Share All-Cash Transaction Offers Greater And More Certain Stockholder Value Than Other Actionable Alternatives
- Transaction Structure Intended To Increase Likelihood Of Obtaining Regulatory Approvals
- $1.1 Billion In Additional Capital Commitment Enables Debt Reduction And Cash Infusion To The U.S. Life Insurance Businesses
- Facilitates Long-Term Objective Of Improving U.S. Mortgage Insurance (MI) Ratings Over Time And Facilitates Growth Opportunities
BTIG rating should be ignored. They sold too early as witnessed the last 3 GNW run ups over the last 6 years.
And, this is history repeating itself, the last 2 times they cut aroud this price and GNW stock ran up to $14 and $16 respectively.
WOW!!!! How are they still getting respect????
Yesterdays and today's 8k's are exactly what would happen if another offer has been made.
Since the existing board has already voted for the Oceanwide offer, they would have to add a couple of new independent directors to the existing board so that the company could meet it's legal obligation to have the new offer fairly considered vs the Oceanwide offer. Of course, if the offer was in confidential negotiations you would have to give the lame reasons of the other minor duties that the new directors would have at a company that is supposedly going private in the middle of next year anyhow( and at that time will no longer even have a board of directors).
Of course, they would also then have to follow up the first 8k with some seemingly meaningless 8k that effectively squashes any thought on a short term vote on accepting the Oceanwide offer so that the board with it's two new directors will have time for due diligence on the competing offer. Something like the seemingly meaningless 8k they put out today.
It could all just be a mere coincidence, but if there were another offer, then they would have to do exactly what they are now doing: add independent directors to the board and brush off any shareholder idea of a quick vote.
Does it not seem absurd that a company that will not even have a board of directors middle of next year suddenly needs two new independent directory?
And another thing, don't people know how to do simple math, GNW is be sold for 5.43ps (per share) and $600k (1.20ps) and $525k (1.05ps) so essentially it is being sold for 7.68ps a 47% premium over Friday's close. This is being sooooo manipulated. They will have to cover eventually.
GNW's tangible book value is $29.80. Anybody who says sell at todays price should see a psychiatrist.
I wont be selling my holdings until it reaches at least $10/sh.
VALID RUMOR - GOING AROUND ON WALL STREET is another Chinese investment company will be coming in with HIGHER BID.
MAKE SENSE, since other Chinese task outs in this industry have been MUCH HIGHER.
Well, the only good thing about this new format is not having to see Josuah Tree's posts anywhere
CEO, Tom caused all the troubles for this company by pushing for LT Care business, made a secrete deal with Chinese and will continue to be CEO of private company while the investors have been suffering for many years. He should be in Jail.
What is everybody holding on until? It is inevitable, just like every other stock, that there will be a downturn. Ideas on what will indicate a good selling point?
look at the $RHT spread ... there's no way $GNW is breaking $4.40 til we hear more news (let's see earnings call Wed morning)
#GNW has an ongoing P/E of 2.75, which indicates that it is undervalued. On watch for clear above 4.20
I do not know if this is true or not, but it looks like on twitter events arbitrage (not familiar with them) posted that supposedly the North Carolina approval has been pushed out to August, don’t know if that means it will take till August or is approved through August. Search under $gnw and let me know what you guys think
I recommend everyone reread Alan Cooke's Seeking Alpha piece of 11/30/16. The analysis is long, very detailed and clearly indicates GNW is a deep value stock with a true value around $8.00. He also show that there should be no threat to survial of GNW from LT insurance claims.
HIs major purpose is to encourage stock holders to vote against the Chinese offer. My variation on his recommendation is to take the 40% gain and think of the true value as a backup if the
current deal fails. I also believe the Chinese deal was accepted by the BOD and management as it appears to be a very good deal for themselves and their future employment. Seeking Alpha has several other GNW pieces worth reviewing: Kal Albrecht CFA of 11/15/16 and Hawkinvest of 12/26/16. Think of GNW as a Deep Value situation that may in the short run yield a 40% return and if that deal fails may retreat to a bigger discount to be invested in for a longer term return.
Just wait for the momentarily announcement of approvals. There are people who get paid to make it happen. No body gets paid to make it fail. Public hearing by regulatory agencies are not mandatory unless there are policy holders filing complaints. Who would file complaints when a rich Chinese company steps up to ensure the funds to sustain the future needs and more importantly the merged company will be under the US regulation. China Oceanside has plenty US assets to ensure the funds and the new GNW LTC policies to be sold in Chinese population will sustain the claims for a foreseeable future.
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