Merger activity remained steady last week with four new deals announced and three deals completed.
The Genworth Financial (NYSE:GNW) deal was finally officially terminated last week after years of delays. We tracked all the ups and downs for well over 4 years and posted 47 updates on the deal, making this the longest tracked deal in our Merger Arbitrage Tool [MAT]. In spite of clearing all the U.S. federal and state regulatory hurdles, Genworth and China Oceanwide had to extend the completion of the merger almost 17 times due to years of government regulatory reviews in both the United States and Canada. Genworth sold its Canadian subsidiary to avoid continued delays in approvals in Canada.