Opinion: China Oceanwide’s deal to buy an ailing U.S. insurance company for $2.7 billion is unlikely to end well
"Genworth is a turnaround job, the sort typically shunned by Warren Buffett-types whose investment style is viewed as the inspiration behind a recent flurry of Chinese acquisitions of cash-rich insurers," writes Una Galani. "The U.S. firm, which also dabbles in mortgage insurance, trades on barely 0.2 times book value, and has been mulling strategic options for as long as two years."
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