DealZone Daily

October 13, 2009

American International Group has agreed to sell it’s Taiwan life insurance unit for $2.15 billion, a key step in its effort to raise cash after a U.S. government bailout last year saved the company from collapse, Reuters reports.

CIT Group Inc is seeing little interest from bondholders in a debt exchange offer aimed at repairing its fragile balance sheet, making bankruptcy increasingly likely, sources familiar with the matter told Reuters.

The following other corporate finance-related stories were reported by media on Tuesday:

PC maker Dell Inc is eyeing more acquisitions as part of a turnaround plan and is developing merger expertise, Chief Executive Michael Dell told Bloomberg in an interview.

Bank of America Corp has agreed to hand over to investigators documents describing the legal advice it received related to its purchase of Merrill Lynch, the Wall Street Journal reported, citing people familiar with the situation.

Japan Airlines Corp plans to seek a 250 billion yen ($2.8 billion) debt waiver as part of a new turnaround plan, Kyodo news agency reported on Tuesday.

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