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June 3, 2010 Thursday 2:31 AM EST
LENGTH: 104 words
HEADLINE: Prudential successfully terminates AIG deal
BYLINE: Simon Kennedy
LONDON (MarketWatch) — U.K. insurer Prudential (uk:pru) (puk) confirmed Thursday that it has successfully agreed with American International Group (aig) to terminate its $35.5 billion acquisition of AIG’s Asian operations. Prudential said it will pay the 153 million pound ($224 million) break fee and that both companies have agreed to waive any other claims they may have against each other. The company has accordingly dropped its plan for a rights issue that would have helped fund the deal.
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