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Prudential AIA deal off


Prudential AIA deal off


Britain’s Prudential has given up on an attempt to buy American International Group’s Asian life insurance unit AIA.

That followed shareholder anger over the amount it had agreed to pay.

It had little choice but to pull out of the deal once AIG had refused to cut the price.

The botched takeover effort may cost some Prudential bosses their jobs.

AIA might now be floated off as a separate company.

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