Deals
AIG May Sell Japan Units for $4.8 Billion in Cash
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American International Group Inc. may reach a deal as soon as today to sell two Japanese life insurance units to Prudential Financial Inc. for about $4.8 billion in cash, said people with knowledge of the matter.
An agreement would cap two years of intermittent talks for Star Life Insurance Co. and AIG Edison Life Insurance Co. between Prudential Chief Executive Officer John Strangfeld and New York-based AIG, said the people who declined to be identified because the negotiations are private. The transaction under discussion values the units at close to their book value, a measure of assets minus liabilities.