American International Group, Inc. filed an amendment today with the SEC that may allow a “going private” transaction and allows former AIG chairman Maurice Greenberg to protect his shares. AIG filed Schedule 13D that allows CV Starr, who has retained Perella Weinberg Partners LP, to advise “Reporting Persons” on a myriad of financial options. Besides the “going private” transaction other options include “acquisitions of assets from” AIG, loans, further investments in AIG, seeking board of directors, exploring a “merger, proxy solicitation, tender offer, exchange offer or otherwise”, and considering strategic plan items.
The filing further states that CV Starr may engage in discussions or cooperate with management, the board of directors and other AIG shareholders, and or other relevant third parties.
The filing also allows Reporting Persons to sell or transfer common shares, enter into “public or private transactions” and use privately negotiated derivative transactions, and stock options to hedge the market risk of their stock positions.
These actions are subject to appropriate laws including state insurance regulatory laws.
The entities listed as signing the form include, Maurice R. Greenber, Edward E. Matthews, Starr International Company, C.V. Starr & CO. Inc., Universal Foundation, Inc., The Maurice R. and Corinne P. Greenberg Family Foundation, Inc., Maurice R. and Corinne P. Greenberg Joint Tenancy Company, LLC, and C.V. Starr & Co., Inc. Trust.