Deals
U.S. to Become Minority AIG Shareholder With $18 Bln Sale
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American International Group Inc. the insurer rescued by the U.S. after bets tied to housing soured in 2008, declined as the Treasury Department said it will sell at least $18 billion of shares acquired in the bailout.
AIG slid 62 cents or 1.8 percent, to $33.37 at 9:32 a.m. in New York. The shares have gained about 44 percent this year, after falling 98 percent in the five years through Dec. 31. Today’s decline is the largest in the 22-company Standard and Poor’s 500 Insurance Index.