Loading LiveCycle Banners.
  1. News Articles
  2. Related News Articles
News Article Details

Manulifes Receives Support from Shareholders to Bid for AIG Asia Unit, Prudential Pulls Out

Back | A- | A+
 Email This     Print     Subscribe

Posted on 09 Mar 2009

Manulife Financial Corp. received support from several large shareholders to pursue a bid for American International Group Inc.'s Asian assets, the National Post reported.

Canada's biggest insurer received a positive response during meetings with institutional investors to gauge their response to a large purchase, the newspaper said today, citing unidentified people.

Manulife is among a handful of bidders for AIG’s Far East operations in an auction backed by the U.S. Treasury, the Post said.

British insurer Prudential has pulled out of the auction for the Asian business of AIG, the Sunday Times newspaper reported.

The paper said Prudential chief executive Mark Tucker believes the asking price of 7 billion pounds ($10 billion) was too high.


Post a Comment
If you are a Storefront / Tradingfloor user, click here to login.
Note: As a guest user, please fill out the form below to post a comment.
Post your comments here.
Name :
Email Address :
Captcha :
Comments :
Character left : 2000