Heavyweight Wrestling Over A Flyweight Insurer
Maurice "Hank" Greenberg, the tough-minded CEO of American International Group, the world's largest insurance company, usually gets what he wants. But then, so does Henry R. Silverman, the fast-moving CEO of Cendant Corp. The two seasoned dealmakers have been enmeshed for weeks in a bidding war over American Bankers Insurance Group, a little-known but alluring Miami-based credit insurer. Right now, the bids are matched. But AIG is the favored bidder. Arbs say that Silverman will have to significantly up the ante to win the prize.
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