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AIG's Nan Shan Unit Gets 3 New Bids

Law360 (December 3, 2010, 5:45 PM EST) -- American International Group Inc. has received three fresh bids for its Nan Shan Life Insurance Co. Ltd. subsidiary, kicking off the second round in the proposed sale of the troubled financial giant's Taiwanese life insurance unit, after a $2.15 billion offer from a separate buyer was blocked earlier this year.

Chinatrust Financial Holding Co. Ltd., Cathay Financial Holding Co. Ltd., and Ruentex Group each revealed in shareholder statements Friday that they had submitted bids for Nan Shan, filing separate disclosures to the Taiwan stock exchange without...
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