Prudential’s AIG bid flounders
British-based insurer Prudential’s bid for the Asian assets of AIG is off.
The acquisition bid, first mounted more than a month ago, was called off following internal shareholder resistance and the failure of the parties to reach an agreement about the ultimate value of the bid.
While Prudential has said it is now reviewing its options, AIG is understood to be in discussions with a number of sovereign wealth funds with the likelihood that its Asian assets would ultimately be taken to an initial public offering in Hong Kong.
AUTHOR
Mike Taylor
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