AIG (AIG) Rips On Buffett Rumor
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AIG (NYSE: AIG) is ripping higher Thursday on rumors that none other than the Oracle of Omaha, Warren Buffett, could buy a large chunk of the government's remaining stake in the company.
The U.S. Treasury still holds 1.248 billion shares of AIG common stock, or 70 percent of outstanding common stock. This is in addition to FRBNY's $9 billion loan to Maiden Lane III, which is preparing to get bids.
Buffett, as you may know, is no stranger to the insurance business. His Berkshire Hathaway (NYSE: BRK-a) is huge in the space.
Still the rumors are just that - rumors - and many of these have no merit.
The U.S. Treasury still holds 1.248 billion shares of AIG common stock, or 70 percent of outstanding common stock. This is in addition to FRBNY's $9 billion loan to Maiden Lane III, which is preparing to get bids.
Buffett, as you may know, is no stranger to the insurance business. His Berkshire Hathaway (NYSE: BRK-a) is huge in the space.
Still the rumors are just that - rumors - and many of these have no merit.
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