AIG buys rival

Thursday 20 August 1998 23:02 BST

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

AMERICAN International Group, the biggest US financial-services company, agreed to buy SunAmerica for $18bn in stock to expand in the US retirement-savings business. New York-based AIG will pay 0.855 shares for each SunAmerica share, valuing the Los Angeles-based insurer at a 26 per cent premium to its closing price yesterday of $64.25.

The purchase marks AIG chairman and chief executive Maurice Greenberg's biggest step into the US consumer market.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Stay up to date with notifications from The Independent

Thank you for registering

AIG buys rival

Join our commenting forum

Thank you for registering