Hong Kong AIG Prudential

AP News - 620 days ago
Hong Kong AIG Prudential
A panel on top of AIA Central, previously the AIG Tower, flashes the company's sign at Hong Kong's financial district Wednesday, June 2, 2010. Prudential PLC has accepted defeat in its ambitious plan to acquire Asian insurance company AIA from U.S. insurance company AIG. Prudential said Wednesday that it is negotiating with AIG about terminating the $35.3 billion deal, which faltered because of resistance of Prudential shareholders to the high price, and AIG's refusal to accept less money. American International Group Inc., whose majority is owned by the U.S. government following a $180 billion bailout, planned to use the proceeds from the sale to make a partial repayment to U.S. taxpayers.(AP Photo/Vincent Yu)