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Icahn giving new AIG CEO some space - Bloomberg

Published 06/29/2017, 12:38 PM
© Reuters.  Icahn giving new AIG CEO some space - Bloomberg
AIG
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  • Wanting to give CEO Brian Duperreault a shot at improving operations, Carl Icahn is backing off demands for a breakup of the company, according to Bloomberg.
  • This report comes one day after Duperreault said he's interested in using excess capital for acquisitions, rather than the previous strategy of aggressive buybacks.
  • AIG (AIG -0.3%) is up 8% since Duperreault - former CEO of Ace and Marsh & McLennan - in mid-April was first floated as the new CEO hire. It still trades at just about 80% of book value - a sizable valuation discount to peers.
  • Now read: AIG: The Buyback King


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