Carl Icahn Readies Activist Battle Against AIG With Slate Of Director Nominees

Shares of American International Group Inc AIG were trading lower by more than 1.5 percent ahead of Tuesday's market open as activist investor Carl Icahn prepares to wage an activist battle against the company's management.

According to a report by Bloomberg, Icahn said that AIG's alternative plan which was presented last week is insufficient. As such, the legendary investor is assembling a slate of directors for nomination to the company's Board of Directors.

Related Link: AIG Announces Sale Of Its Advisor Group Segment, Plans To Return $25 Billion To Investors Over Two Years

Bloomberg stated that Icahn's slate of potential directors have not yet been made public. However, the publication did note a regulatory filling from Icahn's firm stated that Samuel Merksamer and Courtney Mather "may serve on the boards of directors of entities in which Mr. Icahn and/or his affiliates have an interest."

Merksamer has worked with Icahn at his investment firm since 2008 joined several Boards of activist-targeted companies like Hertz Global Holdings Inc HTZ. Similarly, Mather has been working with Icahn since 2014 and joined boards of activist targeted companies like Freeport-McMoRan Inc FCX.