Financial Services Industry
Industry: Email Alert RSS FeedAIG Meets With American General Board Members.(American International Group)(Brief Article)
National Underwriter Life & Health-Financial Services Edition, April, 2001 by Thomas, Trevor
Despite a lawsuit from Prudential PLC charging it had illegally interfered with its bid for American General Corp., executives of American International Group last week met in New York City with board members of American General.
The meeting is the first step toward what many analysts expect will lead to AIG's acquisition of the Houston-based life insurance and annuity company. AIG submitted an offer valued at $23 billion on April 3, in an effort to outbid Prudential PLC, the London-based insurer that had bid for American General a month earlier. The U.K. firm is unrelated to the Newark, N.J.-based Prudential Insurance Company of America Inc.
On its face, AIG's bid was lower than Prudential's $26.5 billion stock offer. But the U.K. insurer experienced...
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