While Ackman and Loeb battle it out over HLF, the other potentially firework-prone battle has died an ignominious death. The WSJ reports that AIG has generously decided not to bit the Treasury hand that fed it just a few short years ago:
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What kind of thanks does AIG owe the government that bailed it out to the tune of $182 billion? How about a $25 billion lawsuit?
NEW YORK (AP) — Activist investor Carl Icahn urged American International Group Inc. to split up into smaller companies Wednesday, saying that the insurance provider is "too big to succeed."Though his Twitter account, Icahn said that he has a "large stake" in the insurer, which has a market capitalization in excess of $81 billion, but he was not more specific about its size. A representative for Icahn was not available for comment early Wednesday.
Andrew Wilkinson submits: American International Group, Inc. (AIG) – The insurer’s shares rallied as much as 12.2% today to touch an intraday- and new 3-year high of $60.96 on news the firm secured $4.3 billion in bank credit lines.