Deals
Paulson Sees Substantial Upside for Genworth If Firm Splits
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Billionaire hedge fund investor John Paulson said Genworth Financial Inc. shares will probably rally as the company divests a stake in an Australian unit, and could gain further if the insurer splits itself in two.
“If the company chooses to spin off its mortgage-insurance and other life-insurance businesses into two separate companies, there could be substantial additional upside,” the money manager said in a letter to investors discussing first-quarter results at his Paulson & Co. funds.