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Prudential HK shares up 4% after AIG snubs offer

Prudential HK shares up 4% after AIG snubs offer
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First Published: Tue, Jun 01 2010. 12 04 PM IST
Updated: Tue, Jun 01 2010. 12 04 PM IST
Hong Kong: The Hong Kong-listed shares of UK insurer Prudential rose 4.1% on Tuesday after US insurer AIG announced that it would not accept a revised takeover offer for its Asian life insurance group.
The stock jumped HK$2.5 to HK$64, the highest level since it was listed in Hong Kong on 25 May, reversing a morning loss of 1%.
Prudential, which had wanted to cut the deal’s value to $30.38 billion, said in a statement that it noted AIG’s announcement and was considering its position.
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First Published: Tue, Jun 01 2010. 12 04 PM IST
More Topics: Prudential | AIG | AIA | Insurance | HongKong |