American General Reviews Bids for Units: American...
From Times Staff and Wire reports
American General Reviews Bids for Units: American General Corp. received two bids for its Home Service insurance units based in Nashville, Tenn., and Jacksonville, Fla. But officials said they got no response for the sale of the company as a whole. American General, the country’s largest home-service life insurer, put itself up for sale in May amid speculation that it could be the target of a hostile takeover. A dearth of buyers led American General, whose 2,600 employees make it one of the Houston area’s biggest employers, to set the Dec. 3 deadline for bidding and offer to sell only the four subsidiaries. The board is set to meet Thursday, and a more detailed announcement will be made then.
