Cendant to Complete American Bankers Buy

Cendant Corp. reaffirmed its intention to complete the $3.1-billion purchase of American Bankers Insurance Group Inc. Parsippany, N.J.-based Cendant, which sells franchises for Avis car rental, Ramada Inn hotels and Century 21 real estate brokerages, agreed to buy the Miami-based insurer in March for $67 a share--51% as a cash tender offer and the rest as a swap of Cendant shares. Cendant’s shares were unchanged at $15.81, and American Bankers’ shares rose 31 cents to close at $58.31, both on the NYSE.