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Strategies & Market Trends : TAKEOVER CANDIDATES
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To: Brian Diggle who wrote (32)7/28/1998 5:22:00 PM
From: Paul Berliner   of 34
 
AIG isn't "just" springing into action over the last 3 months when they could've done the same thing previously. When AIG threw TW a
life preserver years ago, it structured the whole thing very craftily. The warrants and convertible preferred stock issued at that time were a low-risk, high reward method for AIG to play the rescue of TW. AIG's investment has paid off handsomely, as TW is now quite a cash cow. The conversions of the Common Stock equivalents, constant buying on the open market, recent transactions with the Foster family and now fiduciary alterations all indicate an impending AIG bid for the remaining shares. It would be preposterous for AIG to rest on their laurels with only a majority interest to show for their efforts.
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