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Genworth Shares Fall After Being Acquired

Genworth shares were lower Monday after they were acquired by China Oceanwide Holdings for $2.7 billion.

Genworth (GNW) - Get Report shares were down Monday after the insurer was purchased by a Chinese holding firm for $2.7 billion. China Oceanwide Holdings says it plans to keep Genworth operating autonomously following the purchase with day-to-day operations remaining unchanged. China Oceanwide will pay $5.43 a share in cash for Genworth, a 4% premium over the stock's previous closing price.

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