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AIG auction said to cool off

Posted on February 25, 2009 6:46 PM
The auction for American International Group Inc.'s Asian operations is reportedly not as heated as the troubled insurance giant had hoped, with the weak economy causing some potential buyers to think twice.

Three potential buyers remain interested in American International Assurance Co., according to Reuters, with bids due Friday. The report lists Prudential plc of the U.K., Manulife Financial Corp. of Canada and Singapore sovereign wealth fund Temasek Holdings Pte. Ltd. as the parties considering offers for a stake in the unit.

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