Temasek to buy AIG!

maxtor

2 Mar 09, 23:07

HONG KONG (MarketWatch) -- Singaporean state investment company Temasek Holdings Pte. Ltd., U.K. insurer Prudential PLC (PRU.LN) and Toronto-based insurance company Manulife Financial Corp. are expected to bid for the Asian unit of American International Group Inc., two people familiar with the situation said Wednesday.

The three companies will submit their bids by Friday's deadline for final offers, one of the people said.

A third person familiar with the situation said Temasek is "seriously considering" a bid for AIA.

"There are talks going on now and the size Temasek would go for if the bid is materialized is not yet decided," the person said.

"Price will be paramount in the decision," he said.

Temasek and Prudential declined to comment. Manulife couldn't immediately be reached for comment. AIG declined to comment.

AIG initially intended to sell 49% of AIA, which is Asia's largest life insurer with operations in 10 countries, but it has since signaled it was open to selling the whole unit.

AIG is seeking bids that value AIA between US$20 billion and US$30 billion. One person familiar with the situation said AIG would look into an initial public offering of the Asian unit if bids fall below this range, while another said there was no certainty that the bids would be within that range. The Wall Street Journal also said Wednesday the Obama administration could take ownership of the rest of the company and hold onto the stake until market conditions permit an initial public offering of stock.

If AIG receives unsatisfactory bids, the insurer would consider bringing in a partner, or "toe-hold" investor, who would take a minority stake in the business at what AIG considers a fair market valuation.

"I wouldn't expect bids to be so high," the third person said.

A December report by CreditSights, an independent debt research firm, illustrated the difficulty of placing a value on AIG's subsidiaries amid the economic tumult. The report said that in a "best case" scenario, a 50% stake in AIA's Asian life-insurance operations outside Japan would be worth US$29.5 billion, but said the "worst case" scenario was a 70% discount, or US$8.9 billion.

AIG is operating under emergency loans from the U.S. government and is seeking to offload a range of businesses as part of its restructuring efforts.

Man!x

2 Mar 09, 23:08

god help us.

Quincey

3 Mar 09, 02:40

Is this a blowout sale?

reyes

3 Mar 09, 16:15

I was astonish when i saw Temasek wana buy AIG??

i think AIA would be a good buy if the price is attractive.

4sg

3 Mar 09, 16:20

They buying the profitable asian unit....the question is whether US 20, 30 bil a good price...

gigabyte14

3 Mar 09, 16:21

WTF SKARLY MAN UTD SHIRT

FROM AIG CHANGE TO TEMASEK

reyes

3 Mar 09, 16:24

i think 20billion can buy, Man Utd, arsenal, Liverpool and chelsea with money to leftover.

Ppl can live without banks , ppl cant live without EPL!!!!!

4sg

3 Mar 09, 16:29

Originally posted by gigabyte14:

WTF SKARLY MAN UTD SHIRT

FROM AIG CHANGE TO TEMASEK

u should be thankful ho ching gone.....else her face on man united t-shirt then u know...

gigabyte14

3 Mar 09, 16:30

Originally posted by 4sg:

u should be thankful ho ching gone.....else her face on man united t-shirt then u know...

man u website her face zoom in zoom out

[J]erry

3 Mar 09, 16:30

AIG
|
|
SIG

wtf??

nature-ones

3 Mar 09, 16:31

Originally posted by reyes:

i think 20billion can buy, Man Utd, arsenal, Liverpool and chelsea with money to leftover.

Ppl can live without banks , ppl cant live without EPL!!!!!

nah i can live without EPL, but cant live without my laptop

angel7030

3 Mar 09, 16:53

Originally posted by gigabyte14:

WTF SKARLY MAN UTD SHIRT

FROM AIG CHANGE TO TEMASEK

Then LKY will be featured

angel7030

3 Mar 09, 16:57

Originally posted by nature-ones:

nah i can live without EPL, but cant live without my laptop

U laptop, me can't live without my bartop

Metal Eleven

3 Mar 09, 21:55

It's getting more and more worse.

TehJarVu

3 Mar 09, 21:59

what? still throwing away our money??

4sg

3 Mar 09, 22:05

I think this is a clever move.

They are not investing money in AIA shares or bond. Instead, they are buying out the asian sister units of AIA.

The main thing is US $20 to $30 Bil a good price?

Some said yes, I'm unsure....

charlize

3 Mar 09, 22:06

Originally posted by 4sg:

u should be thankful ho ching gone.....else her face on man united t-shirt then u know...

And then Man U will be relegated in the next season.

skythewood

3 Mar 09, 22:09

Originally posted by charlize:

And then Man U will be relegated in the next season.

Than you will see some forum people cursing rooney and ronaldo as despots and curse them to grow breast...

4sg

3 Mar 09, 22:23

Originally posted by skythewood:

Than you will see some forum people cursing rooney and ronaldo as despots and curse them to grow breast...

and dun forget calling them ass licking dogs.....

reyes

4 Mar 09, 18:42

nah i can live without EPL, but cant live without my laptop

the differences u r call a computer freak, while we are call fans!!

reyes

4 Mar 09, 18:45

too bad ho ching step down, otherwise you can imagine a Man utd jersey with words " temasek" Plus Ho ching photo directly beneath it.

cool huh

4sg

4 Mar 09, 18:50

not cool.....super de cool....

kira.sg

10 Mar 09, 15:03

Whatever Temasek buys, you better sell.

angel7030

10 Mar 09, 17:30

Originally posted by reyes:

too bad ho ching step down, otherwise you can imagine a Man utd jersey with words " temasek" Plus Ho ching photo directly beneath it.

cool huh

Well, if Ho Ching photo is on manchester jersey, guess alots of opposition players will love to spite saliva on it, me see footballers like to spite saliva...yak!!!

angel7030

10 Mar 09, 17:31

Originally posted by kira.sg:

Whatever Temasek buys, you better sell.

if they want to buy my freehold land in joo chiat, how??, sell or not??