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AIG rejects lower Pru offer

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AIG rejects lower Pru offer

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American International Group has flatly rejected an attempt by British insurer Prudential to cut the price its prepared to pay for AIG’s Asian life insurance unit.

That threatens to derail the insurance industry’s biggest-ever takeover.

Prudential had tried to renegotiate the price because many of its shareholders said it was paying too much.

Analysts said Prudential is now likely to abandon the bid.