Friday, March 03, 2006
General Electric Prices Genworth Secondary
General Electric priced a secondary offering of its former Genworth unit and affirmed earnings guidance for the current quarter and year.
GE, which spun off Genworth last year, said it sold 71 million Class A shares of the insurance outfit for $32.75 apiece through underwriters led by Merrill Lynch. Including another 15 million Class B shares GE sold back to Genworth, the company raised $2.8 billion, which it will use for "industrial acquisitions" and buybacks.
General Electric Prices Genworth Secondary
Source: The Street
GE, which spun off Genworth last year, said it sold 71 million Class A shares of the insurance outfit for $32.75 apiece through underwriters led by Merrill Lynch. Including another 15 million Class B shares GE sold back to Genworth, the company raised $2.8 billion, which it will use for "industrial acquisitions" and buybacks.
General Electric Prices Genworth Secondary
Source: The Street
Permalink posted by armandn @ 8:21 AM 
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