The fruitless pursuit of the Asian life insurance subsidiary of New York-based American International Group by U.K.-based Prudential plc is still causing consternation on both sides of the Atlantic.
Amid calls for his resignation, Prudential CEO Tidjane Thiam is expected to offer an apology to shareholders at the company’s annual meeting next week, Reuters reports. Prudential is estimated to have racked up $658.8 million in adviser fees and other costs during the scuttled acquisition attempt.
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