Shareholder Vote Planned for AIG Deal

June 21, 2001

Insurer American General Corp. indicated its shareholders will vote on a planned $23 billion takeover by rival American International Group Inc. at a special meeting Aug. 15.

According to a Reuter’s story, the shareholders are likely to vote in favor of the deal, which got approval from the firms’ boards back in May. The deal bettered an offer given by British insurer Prudential Plc two months earlier.

Those shareholders of record on June 25 will be permitted to vote during the special meeting. The deal, however, has not yet received the go-ahead from all 50 states’ insurance regulators, but the deal is likely to close by year’s end.

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