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Ares, Blackstone Said Among Bidders for Fidelity & Guaranty Life

  • Athene said to also consider bid despite earlier low offer
  • Insurer is seeking new suitor after sale to Anbang fell apart

Ares Management LP and Blackstone Group LP are among bidders vying to acquire Fidelity & Guaranty Life, people familiar with the matter said, as the insurer looks for a home after nixing a sale last month to a Chinese conglomerate.

The U.S. buyout firms are preparing to make a new round of bids for FGL after submitting offers for the Des Moines, Iowa-based company about a month ago, said the people, who asked not to be identified because the matter isn’t public.