The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Bruce Berkowitz Amasses AIG Stock, Debt Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, March 16, 2010

Bruce Berkowitz Amasses AIG Stock, Debt

Reported by Daniel Tovrov

Manager of Fairholme Capital Management's lauded Fairholme Fund, Bruce Berkowitz on Monday divulged that he's recently bought a sizable stake in American International Group, as well as its convertible debt and bonds.

Berkowitz, who was named Morningstar's domestic stock picker of the decade, told BusinessWeek that he's purchased over 13 million common shares of AIG and more than 20 percent of the firm's convertible debt.

Fairholme stared purchasing shares in the second half of 2009 “as we started to see cash flows of AIG turn positive,” Berkowitz noted to BusinessWeek. “It is still a good company with a good global brand.”

AIG stock benefited from the news that the company was selling its two largest non life-insurance businesses. AIG is shopping its AIA Group to Prudential and American Life Insurance Company to MetLife for a combined $51 billion.  

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use