Prudential PUK; 2378 HK
Posted: Tue Apr 27, 2010 5:04 pm
DJ Prudential's Largest Shareholder Said To Have Launched Break-Up Bid - UK Times
DOW JONES NEWSWIRES
U.K. insurer Prudential PLC's (PRU.LN) biggest shareholder is possibly moving toward breaking up the insurer that could derail its purchase of AIG's (AIG) Asian unit, the U.K newspaper the Times reported, citing unnamed sources.
Capital Group, which owns 12% of Prudential, is said to have approached at least three U.K.-based insurers for a consortium bid, the paper said on its Web site. Resolution, Clive Cowdery's acquisitions vehicle, and Prudential rival Aviva have been approached, the report said.
Prudential has launched an effort to buy American International Group Inc.'s Asian unit for $35.5 billion. It will release terms of a rights issue on May 5 and has applied for a secondary listing in Singapore.
DOW JONES NEWSWIRES
U.K. insurer Prudential PLC's (PRU.LN) biggest shareholder is possibly moving toward breaking up the insurer that could derail its purchase of AIG's (AIG) Asian unit, the U.K newspaper the Times reported, citing unnamed sources.
Capital Group, which owns 12% of Prudential, is said to have approached at least three U.K.-based insurers for a consortium bid, the paper said on its Web site. Resolution, Clive Cowdery's acquisitions vehicle, and Prudential rival Aviva have been approached, the report said.
Prudential has launched an effort to buy American International Group Inc.'s Asian unit for $35.5 billion. It will release terms of a rights issue on May 5 and has applied for a secondary listing in Singapore.