for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Funds News

MGIC says may not be obligated to do Radian deal

(Repeats to fix headline)

NEW YORK, Aug 7 (Reuters) - Mortgage insurer MGIC Investment Corp MTG.N said on Tuesday it advised the New York Insurance Department that it is the preliminary assessment of MGIC's management that MGIC is not obligated to complete its pending merger with Radian Group Inc. RDN.N.

MGIC said Radian disagrees with MGIC management’s preliminary assessment.

In February, MGIC said it planned to buy rival Radian for roughly $5.5 billion.

((Reporting by Mark McSherry; Reuters Messaging: mark.mcsherry.reuters.com@reuters.net; +646 223 6094)) Keywords: RADIAN MGIC/

C Reuters 2007. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nWNAS0513

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up