The Wall Street Journal's
Jenny Strasburg and
Liam Preven report that discussions between AIG
and a team of bidders led by Franklin Resources
regarding the sale of AIG's asset management business have yet to result in a deal.
The monthlong exclusive negotiating period ended in mid-June and was extended for another two weeks.
Though there's still a chance that a deal may be reached with the bidders, the deal price and terms "are in flux," according to the report.
Last month, Bloomberg
that Franklin and Crestview Partners
were in joint discussions to buy the AIG unit.
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