In March, INN reported that American International Group Inc. (AIG) would sell AIA Group Ltd., to Prudential plc for approximately $35.5 billion, including about $25 billion in cash, $8.5 billion in face value of equity and equity-linked securities and $2 billion in face value of preferred stock of Prudential, subject to closing adjustments.
Now, AIG and Prudential are in talks to revise the composition of the deal—cutting the $25 billion cash component of the deal by $2 billion—according to numerous news outlets. Citing “people familiar with the matter,” the Wall Street Journal, reports that Prudential last week delayed the launch of a $20 billion rights offering after the U.K.'s Financial Services Authority raised concerns about its capital position.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access