Prudential deal near collapse as AIG snubs lower offer

Prudential's bid for rival AIG's Asian unit appeared close to collapse after AIG rejected the British insurer's lowered offer of $30.38 billion in cash and shares.
The deal's unravelling could cast doubt over the future of Prudential Chief Executive Tidjane Thiam less than a year after he took the top job.
Prudential, which had asked for a reduction of $5 billion in talks with AIG over the weekend, is now likely to abandon the bid formally rather than push it through on its original terms, investors and analysts said.
“Personally, I think the good thing would be for the Pru to withdraw gracefully," said Paul Mumford, senior fund manager at Cavendish Asset Management.
"If they do put it to a vote, I'd be very surprised if shareholders vote it through.