Genworth has agreed to be acquired for $5.43 a share in cash by privately-held China Oceanwide Holdings Group. But since the news announcement, GNW keep on dropping from 5.21 before news broke to current $4.
I am wondering why it is dropping? Maybe it is due to another news published at the same time: a new charge of $400-450 million for its LTC business.
So, is it that investors all believe that the deal will not go through in the end? What do you guys think?