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Article: AIG Announces Exercise of Underwriter's Option in Its Secondary Offering of Shares in Transatlantic Holdings, Inc.
- Article from:
- Investment Weekly News
- Article date:
- June 27, 2009
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American International Group, Inc. (AIG) announced that the underwriters of the previously announced public offering of 26 million shares of Transatlantic Holdings, Inc. (NYSE: TRH) common stock owned by AIG and its subsidiary, American Home Assurance Company (AHAC), have exercised their option to purchase an additional 3.9 million shares. As a result, AIG and AHAC will sell a total of 29.9 million shares for aggregate gross proceeds of $1.136 billion. TRH will not receive any of the proceeds from the secondary offering.
The secondary offering was made through a syndicate of underwriters, led by J.P. Morgan Securities Inc., Goldman, Sachs & Co., and Morgan ...
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