The American insurer AIG has just clinched the purchase of AMERICAN GENERAL, the largest acquisition in its history. The offer, fully funded by an exchange of shares, values the American insurer at $23 bn, AG shareholders receiving the equivalent of $46 per AIG share. AIG, associated with AMERICAN GENERAL represents a turnover of 78 bn euro on the basis of the 2000 financial year for the two groups, with a stock market capitalization of 244 bn euro on 11 May 2001. This operation puts an end...