Linux e Google: Deals Today

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Good Morning Postlinuxeg,

TUE 01 Jun 2010

With an outstanding IOU to Uncle Sam of more than $50 billion, AIG hardly seems to be in a position to turn up its nose at a lower bid for AIA from Britain's Prudential. The message was pretty clear to Pru's CEO Tidjane Thiam that his shareholders were in little mood to approve a $21 billion rights issue to fund a $35 billion purchase of AIG's Asian assets. So he came back with a $30 billion offer. No surprises there. He'd be mad not to haggle, particularly given it looks like Pru is the only buyer out there.

Suggestions that AIG would opt for an IPO of the Asian business shouldn't have been much of a threat to Pru's bid. Expectations were that AIG would get around half what Pru was offering – after haggling – if it went to market, and even that assumed a market with a whole lot more appetite for new issues than the one AIG is now looking at.

So what gives? Does AIG have some mystery buyer waiting in the wings willing to hit its magic price tag? Or has AIG CEO Robert Benmosche been given some secret blessing by the U.S. Treasury to slow down the asset sales and try to rebuild the business? That's almost harder to believe than the white knight suggestion. This is an election year, and politicians will smell blood if it starts to look like AIG is dragging its heels in paying its bills.

Chris Kaufman, DealZone

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AIA IPO valuation, details, in focus after Pru rebuff

June 01, 2010 08:53 AM ET

HONG KONG (Reuters) - AIG's rejection of a lowered takeover offer by Prudential for its Asian life insurance business has shifted attention back to the company's IPO plans.

Full Article

Covidien to buy ev3 for $2.6 billion in vascular deal

June 01, 2010 08:36 AM ET

NEW YORK (Reuters) - Medical products maker Covidien Plc plans to acquire ev3 Inc for $2.6 billion to boost its presence in stents and other vascular devices.

Full Article

Blackstone shows interest in buying RadioShack: report

June 01, 2010 08:05 AM ET

(Reuters) - U.S. private equity firm Blackstone Group LP has emerged as a leading participant to buy electronics retailer RadioShack Corp after an initial round of bids were completed last week, the New York Post said, citing sources familiar with the matter.