AIG Halts Talks On Sale of Foreign Life Unit

AIG has halted "active communications" with two unnamed bidders for American Life Insurance and closed the so-called data rooms providing access to financial data, Dennis Vigneau, the unit's chief financial officer, said during an employee meeting and conference call, Bloomberg reports. MetLife made a preliminary offer of $11.2 billion for Alico and Axa SA put in a bid that excluded Japanese operations, Bloomberg previously reported.

AIG Halts Talks On Sale of Foreign Life Unit
Source: TheStreet.com