AIG Tries to Save AIA Deal; Thiam Seeks to Cut Price

May 30, 2010  |  

(Bloomberg) — American International Group Inc., the bailed-out insurer, remains in negotiations to salvage the sale of its main Asia unit after Prudential Plc requested a lower price to win shareholders’ approval. Prudential asked that the $35.5 billion price for AIA Group Ltd. be cut to about $29 billion to $30 billion, and New York- based AIG is seeking at least $32 billion, said a person with knowledge of the talks who declined to be identified because they are private. The Sunday Times reported that Prudential won backing for the deal from investors provided it can cut the price by more than 10 percent.

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