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.
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