Prudential Unveils $21B Rights Issue In Bid For AIA

Law360, New York (May 17, 2010, 1:34 PM EDT) -- After a nearly two-week delay, British insurer Prudential PLC on Monday released an approximately $21 billion rights issue intended to raise cash for its purchase of AIA Group Ltd., the Asian life insurance unit of American International Group Inc.

The rights offering was initially supposed to hit the market on May 5, and the delay set off speculation about the fate of the approximately $36 billion deal for AIA, which was announced March 1. The Financial Services Authority, the U.K.'s top securities regulator, had raised red...
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