AIG (AIG) Said to Be in Talks to Acquire Independent Broker Dealer from Hartford (HIG)

July 23, 2012 1:16 PM EDT
Shares of Hartford Financial Services (NYSE: HIG) are ticking higher Monday following headlines from the WSJ that it might be talks to sell an independent broker-dealer business to American International Group (NYSE: AIG).

The deal, which isn't public yet, is expected to be finalized in August. Sources said discussions could fall apart between now and then.

Hartford might be aiming to sell its Woodbury Financial Services unit as it looks to divest more assets. Financial terms weren't mentioned.

Shares of Hartford are down 1.5 percent, while AIG is 1.7 percent lower.

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