Market Overview

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

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Shares of American International Group Inc (NYSE: 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 (NYSE: HTZ). Similarly, Mather has been working with Icahn since 2014 and joined boards of activist targeted companies like Freeport-McMoRan Inc (NYSE: FCX).

Posted-In: AIG AIG Activist AIG Board Of Directors Bloomberg Carl IcahnNews Legal Management

 

Related Articles (AIG + FCX)

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