AIA ‘a bridge too far’ for UK Pru, says Greenberg
Prudential's failed $35bn bid to buy American International Group (AIG)'s Asian business, AIA, was "a bridge too far" for the UK life insurer, according to Maurice "Hank" Greenberg.
The former AIG CEO and architect of AIA's multi-decade growth strategy told industry rainmakers in Madrid that the deal was inherently risky, as Prudential had to raise more than its market capitalisation to finance the deal.
Greenberg told the International Insurance Society (IIS) that a successful takeover would have forced Prudential to...
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