LONDON Jonathan Bloomer, chief executive officer of Prudential PLC, said Thursday that the United Kingdoms second-biggest insurer wont raise its $20 billion bid for American General Corp. of Houston, which American International Group of New York topped on Tuesday.
Weve said all along that weve got a deal, and its strategically a very sensible deal, Mr. Bloomer said in an interview. Weve agreed on it, and thats the way its going to stay.
AIG, the worlds biggest insurance company, offered $23 billion, or $46 a share, for American General. Prudential PLCs shares fell about 15% after its offer was announced March 12 amid concern that it was paying too much for American General.