| From Todayonline.com: Plans by Prudential of Britain to become Asia's biggest insurer are in tatters after talks to cut the agreed US$35.5 billion ($50 billion) price-tag of AIA collapsed amid speculation that its owner, American International Group (AIG), was instead pursuing a deal with several sovereign wealth funds.
In the early hours of yesterday, Prudential confirmed that it was withdrawing from a deal that now leaves it with a bill of US$450 million, covering a break-fee to AIG and payments to its own army of bankers and lawyers................................................Full Article: Source
|