Linux e Google: Deals Today

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Good Morning Postlinuxeg,

FRI 04 Jun 2010

American International Group CEO Robert Benmosche asked the insurer's board for time to explore options besides a public offering for its Asian life unit after a $35.5 billion deal to sell it to Prudential fell apart, a source familiar with the matter tells Paritosh Bansal.

Benmosche wanted to explore other options for American International Assurance, including selling parts of the business, after the directors on Monday voted down a sale to Prudential on revised terms, the source said. The British insurer had asked AIG to cut the price to $30.4 billion.

Putting aside for the moment what AIA may actually be worth, AIG's board and even Uncle Sam can possibly be forgiven for not wanting to appear too desperate to sell. They certainly would have had a harder time setting prices for other assets if Pru was able to knock a sixth off the price just for asking.

Plus, there appears to be surprisingly little appetite in Washington for holding AIG's feet to the fire to get back the tens of billions of dollars in bailout support that made the U.S. government AIG's most dominant shareholder and creditor.

A date has yet to be set for the next board meeting on the issue of what to do with AIA, but with congressional elections in November, the longer they wait, the bigger the risk that hawkish politicians begin to circle.

--Chris Kaufman

Prudential seeks business as usual, investor fury eases

HSBC in talks to sell private equity arms

AgBank to issue 47.6 billion shares

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NAB's plan to sell AXA assets may not clinch deal

Carlyle leads race to buy White Tower CMBS assets: source

KBC cancels sale of private equity business

Valeo shares up on M&A talk

Washington Post fields several bids for Newsweek

Prudential seeks business as usual, investor fury eases

June 04, 2010 09:10 AM ET

LONDON (Reuters) - Prudential will try to draw a line under its botched Asian takeover at an investor meeting on Monday amid signs that investor fury over the deal is abating.

Full Article

HSBC in talks to sell private equity arms

June 04, 2010 08:51 AM ET

LONDON (Reuters) - British bank HSBC is in talks that could lead to five separate management buyouts of its private equity fund management businesses, it said on Friday, as banks go back to focusing on core operations.

Full Article

AgBank to issue 47.6 billion shares

June 04, 2010 09:28 AM ET

HONG KONG/SHANGHAI (Reuters) - Agricultural Bank of China , preparing for the world's largest-ever initial public share offering, said on Friday it plans to issue up to 47.6 billion shares, and said that its non-performing loan ratio was 2.46 percent in the first quarter.