The next step in American International Group's recapitalization plan may be taken next week. AIG said yesterday that its board had approved the issue of warrants to purchase 75 million shares of common stock, which are conditioned on all the parties to the recapitalization agreeing it can close by January 14, according to a Reuters report.

Regardless of whether or not the deal does, in fact, close next week, this is one of the final steps for the insurer to finish the transaction. Reuters reports that AIG said it will issue a statement on January 12 disclosing whether all the parties have agreed that the deal can close by January 14.

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