NEW YORK American General Corp., the life insurance company that is being bought by American International Group Inc., will be replaced on the S&P 500 Index by Ciena Corp., Standard & Poors has announced.
AIG, which is already a part of the S&P 500, says its shareholders have approved the $23 billion deal for American General. The transaction is expected to close this month.
Standard & Poors said Thursday that Ciena would be added to its index at a date to be announced.