New York insurer American International Group Inc. has a definitive agreement to buy the minority shareholders in 21st Century Insurance Group, which it already controlled, for $22 a share, or about $813 million.
Processing Content
The deal, announced Tuesday, is expected to close next quarter.
AIG, which already owned a 60.8% stake in 21st Century, made an initial offer in January to buy the rest of the shares for $19.75 each. The Woodland Hills, Calif., auto insurer would become a wholly owned subsidiary of AIG.
