Notable Mergers and Acquisitions of the Day 7/16: AIG, AU, ARWR

July 16, 2009 9:45 AM EDT

• American International Group, Inc. (NYSE: AIG) today announced it will accelerate steps to position American Life Insurance Company as an independent entity and seek an initial public offering and public listing in New York, depending on market conditions and subject to regulatory approval. This planned public offering of ALICO is a significant step in the process that was announced by AIG on March 2 and will result in a board of directors and management team for ALICO separate from AIG.
  
  "We continue to consider all strategic options through a robust, structured and disciplined process. At this stage, we expect that a public offering for ALICO will be beneficial to all stakeholders, including U.S. taxpayers, policyholders, employees and distribution partners," said Edward Liddy, Chairman and Chief Executive Officer of AIG.
  
  Rodney Martin, Jr., Chairman and CEO of ALICO said, "Today's announcement represents a roadmap for our independence. "Our ability to weather current economic conditions across all of our markets demonstrates the strength of our operations, diversification of our platform, confidence of our customers and support of our distribution partners." ALICO is a leading global insurer operating in 54 countries with 19 million customers, over 40,000 agents and distribution partners and assets under management of more than $89 billion.
  
  
• AngloGold Ashanti (NYSE: AU) signs agreements with Randgold Resources Limited in relation to its proposed acquisition of Moto Goldmines Limited
  
  AngloGold Ashanti Limited is pleased to announce that it has entered into a series of agreements with Randgold Resources Limited, which, upon the closing of Randgold Resources' proposed acquisition of 100% of the issued share capital and outstanding options and warrants of Moto Goldmines Limited, will result in AngloGold Ashanti acquiring an indirect 50% interest in Moto for approximately US$244 million in cash.
  
  
• Arrowhead Research Corporation (NASDAQ: ARWR) has completed the first phase of a plan to increase its ownership in electronics films subsidiary, Unidym Inc., a strategy that was initially announced at its annual shareholder meeting on March 26, 2009. On July 15, 2009, Arrowhead agreed to a stock swap transaction with existing Unidym shareholders, the most recent in a series of transactions that increased Arrowhead's ownership of Unidym to 70%. This follows recent milestones achieved by Unidym, including progress toward commercialization in target displays markets, expanding its partnership model and aggressively reducing cash burn.
  
  The transactions consist of:
  
  The agreement on July 15, 2009 to exchange approximately 750,000 shares of newly issued Arrowhead common stock in exchange for an equal number of Unidym Series C preferred stock with Unidym stockholders;
  
  The issuance and exchange of approximately 1.9 million shares of Arrowhead common stock for approximately 1.1 million shares of Unidym Series C Preferred Stock and 833,333 shares of Unidym Series C-1 Preferred Stock effective June 25, 2009;
  
  The investment by Arrowhead of approximately $875,000 of cash and the conversion of $950,000 of intercompany loans into Unidym Series C-1 Preferred Stock on May 12, 2009 and June 25, 2009; and
  
  The issuance and exchange of approximately 1.3 million shares of Arrowhead common stock to several Unidym stockholders for an equal number of Unidym Series A Preferred Stock completed June 11, 2009.
  
  Pursuant to the agreements, the Arrowhead stock issued in the exchanges may not be sold for one year from the date of each agreement.

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