Press Release
| March 11, 2010
Dewey & LeBoeuf Represents MetLife in $15.5 Billion Acquisition of AIG's American Life Insurance Company
(New York, March 11, 2010) — A team of Dewey & LeBoeuf lawyers is representing US insurer MetLife in its March 8 announced deal to purchase the foreign life insurance unit of AIG, American Life Insurance Co., for $15.5 billion in cash and stock. Under the agreed terms, MetLife will pay $6.8 billion in cash and $8.7 billion in company shares.
The purchase expands MetLife's presence in Japan and high-growth markets across Europe, the Middle East and Latin America. American Life Insurance, known as ALICO, is AIG's second largest life insurance arm and operates in more than 50 countries.
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