Prudential Ends Plans To Buy AIG Asian Subsidiary
RENEE MONTAGNE, host:
NPR's business news starts with the collapse of an AIG deal.
(Soundbite of music)
MONTAGNE: The British insurance company Prudential is calling off plans to buy AIG's Asian subsidiary. AIG needed the sale to pay back some of the $180 billion it still owes American taxpayers. Merger talks hit the rocks after Prudential's shareholders balked at the $35 billion price. Prudential lowered its offer, AIG refused, and the deal fell apart.
AIG is reportedly considering a public stock offering to raise money from its Asian business.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR’s programming is the audio.