AIG makes $15.7 billion offer for Maiden Lane II

AIG lobby

The New York Federal Reserve on Friday said it had received a formal offer from AIG, a rescued insurer, to buy all the assets of Maiden Lane II, one of two bailout vehicles set up in 2008 to salvage the company.

AIG on Thursday revealed that it had approached the New York Fed with an offer of $15.7 billion in cash for the assets, in a filing with the US Securities and Exchange Commission. As of December 2010, the vehicle's net portfolio holdings were worth $15.89 billion.

"The Fed has been aware

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