RSS FeedUK's Pru Seeks 10 Percent Price Cut to Save AIA Deal: Report ABC News
LONDON (Reuters) - Prudential investors will back the group's bid for AIG's Asian life insurance arm provided it can negotiate a 10 percent cut in the deal's $35.5 billion price tag, the Sunday Times reported.
Capital Group, Pru's leading shareholder with a 13 percent stake, is expected to vote for the takeover if the price drops to between $31 billion and $32 billion, and other big investors are also ready to back revised terms, the paper said, citing unnamed sources close to Prudential.
Prudential declined to comment.
Prudential, Britain's biggest insurer, was dramatically forced to reopen price negotiations with AIG last week because it feared the deal, seen by some of its investors as too expensive, might fail to garner the required 75 percent approval at a June 7 shareholder vote.
A Prudential team led by chief executive Tidjane Thiam was holding talks in the U.S. with AIG this weekend, and the company could issue an update on Tuesday, when markets in the UK and U.S. reopen after a public holiday on Monday, a source familiar with the situation said.
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Seek provisions for extending your overseas stay. Online option makes it convenient to you if you decide to extend your overseas stay, the holiday insurance should be chosen to protect your holiday. After all every one hopes that we won’t need the insurance but it is always best to have it. When you are in a foreign country and something goes wrong whether it is a stolen wallet or lost passport you really do not want to go alone. This is precisely why one opts for worldwide travel insurance for all overseas travel.
Medical cover: you can be covered for any medical assistance or hospitalization charges. While you are on a world tour then the mounting medical bills might cost you the earth and leave you penniless.
Concerns about your personal baggage, protect it from any kind of stealth or damage to your personal belongings. You, as a globe trotter could possibly be having such worries and may be on the lookout of a way out of this. It could be the fear of theft of cash and other ensuing problems.
You plan your trip and relax let your travel insurance agent do the rest. You are going to be really relieved to have the insurance guy deal with things and see you have the funds etc to carry on with your trip and not have it ruined by some unforeseen problem. Your policy should be flexible enough as well as accommodate...
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