I purchased a small amount of stock in GNW last month and was pleased about the buyout news on Monday... until I checked the price and saw it dropping. Looking for insight.
China Oceanwide is purchasing Genworth Financial for $2.7bn in cash. The deal closing date is slated for sometime in mid-2017 for $5.43/share.
I got in when it was much lower than that, however, I'll have to wait until mid-2017 to see any gains from it, correct?
Why is the stock price tanking? Are investors selling because the pay out won't be until mid next year? Are they looking at it like, "better to get returns now than wait for a little more next year?"
Thanks!
Submitted October 26, 2016 at 04:26PM by TheCountrySweden http://ift.tt/2dXL6Zd
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