Thursday, January 25, 2007
AIG Looks to Acquire Outstanding Shares of Auto Insurer 21st Century
American International Group, Inc. (AIG) has submitted a letter to the board of directors of 21st Century Insurance Group proposing to acquire the outstanding 38.1 percent publicly held shares of 21st Century for $19.75 per share in cash.
AIG and its subsidiaries own approximately 61.9 percent of the outstanding shares of 21st Century. The aggregate cash consideration payable would be approximately $690 million. Following the transaction, 21st Century would become a wholly owned subsidiary of AIG.
AIG Looks to Acquire Outstanding Shares of Auto Insurer 21st Century
Source: Insurance Journal
AIG and its subsidiaries own approximately 61.9 percent of the outstanding shares of 21st Century. The aggregate cash consideration payable would be approximately $690 million. Following the transaction, 21st Century would become a wholly owned subsidiary of AIG.
AIG Looks to Acquire Outstanding Shares of Auto Insurer 21st Century
Source: Insurance Journal
Permalink posted by armandn @ 7:27 AM 
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