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(From M&A Navigator)
MANAVIGATOR-January 4, 2011-Taiwan Secom makes alternative proposal for AIG's Taiwan unit (C)2011 M2 COMMUNICATIONS http://www.m2.com
Security firm Taiwan Secom (TPE:9917) on Tuesday made an alternative proposal to AIG (NYSE:AIG) for its Taiwan unit Nan Shan Life, which the US insurer is seeking to sell. The Taiwan firm proposed to jointly operate the unit with AIG, which intends to use the proceeds from the planned sale to repay its state aid. First-round bids for the unit were estimated last month at up to USD3bn (EUR2.2bn). As part of the alternative plan, which includes also a possible flotation of the unit in Taiwan, Taiwan Secom …