AIG deals give impetus to M&A market
The pace of mergers and acquisitions is gaining speed in 2010 thanks to American International Group Inc.
MetLife's $15.5 billion (Dh57bn) deal on Monday to buy AIG's American Life Insurance Co, or Alico, brought the total value of dealmaking globally this year to $500.3bn. That was up 21 per cent from the year-ago period, according to data collected by deal-tracking firm Dealogic.
The transaction is the fifth-largest deal globally so far this year, and the second-largest US transaction announced in 2010.
AIG's sale of Asia-based life insurer, AIA Group, to Britain's Prudential last week for $35.5bn tops the global 2010 list. The MetLife-Alico deal is the sixth-largest insurance transaction on record. Prudential's purchase of AIA is No1.
Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.
Follow Emirates 24|7 on Google News.