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AIG Explores 'Options' With 20th Century

January 21, 1998|Bloomberg News

American International Group Inc., holder of a 42% stake in 20th Century Industries, said it would be willing to discuss acquiring the property and casualty insurer. AIG also said it is not currently considering selling its interest in Woodland Hills-based 20th Century, according to the New York-based international property and casualty insurer's Schedule 13D amendment filed with the Securities and Exchange Commission. John Wooster, AIG's vice president of communications, said the filing was meant to "preserve our options for the future, but it doesn't in any way signal that we intend to do anything." The filing said 20th Century on Jan. 9 authorized Salomon Smith Barney "to explore the feasibility of strategic alternatives," including a combination with AIG or other unspecified third parties. 20th Century shares rose $1.25 to close at $27; AIG gained $2.44 to close at $103.94.

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