Deals
Paulson Said to See AIG Unit Sales as Alternative to Breakup
- Hedge fund manager estimates life assets valued at $43 billion
- Icahn has been pressuring insurer to split into 3 companies
John Paulson Said to Endorse AIG Sale
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John Paulson, the billionaire whose proposal to split American International Group Inc. into three companies was rebuffed by Chief Executive Officer Peter Hancock, would also support an alternative plan for the insurer to sell units, according to people familiar with his hedge-fund firm’s thinking.
Individual sales of subsidiaries could create more value than the spinoff off the entire life-insurance business, said the people, who asked not to be identified discussing internal deliberations at the hedge-fund firm. The goal of the plan would be to focus AIG on property-and-casualty insurance.