Genworth Sets March 7 For Shareholder Vote On Acquisition

Genworth Financial Inc. has set March 7 as the date for a special shareholders meeting to vote on the company's proposed acquisition by China Oceanwide.

Genworth, a Henrico County-based insurance company with thousands of employees in Virginia, announced in October that it had agreed to be acquired by the China-based investment company for about $2.7 billion.

Under the terms of the deal, Genworth shareholders will receive $5.43 in cash for each share of Genworth's Class A common stock they hold.

Genworth still must obtain approval from various state and federal regulatory agencies to complete the merger. Two shareholder lawsuits also have been filed challenging aspects of the deal.

The shareholders meeting is scheduled for 9 a.m. at The Westin Richmond, 6631 W. Broad St. in Henrico .

Stockholders also may vote by mailing ballots, calling a toll-free number or online. Voting ballots will be sent to shareholders. The company said stockholders of record of Genworth's Class A common stock as of the close of business on Jan. 17 are eligible to vote.