Bloomberg News

AIG to Buy $5 Billion of Stock in $18 Billion Treasury Offering

September 09, 2012

The U.S. Treasury said it’s offering to sell $18 billion in American International Group Inc. (AIG:US) shares, and that the bailed-out insurer plans to buy back as much as $5 billion.

The U.S. also will give underwriters a 30-day option to purchase up to an additional $2.7 billion in common stock from the department to cover over-allotments, if any, Treasury said today in a statement.

AIG closed at $33.99 on Sept. 7.

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net


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Companies Mentioned

  • AIG
    (American International Group Inc)
    • $54.02 USD
    • 1.14
    • 2.11%
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