US - Shareholders of American General Corporation have overwhelmingly voted to approve the merger agreement with American International Group (AIG).
Under the terms of the agreement announced on May 11, 2001, American General shareholders will receive $46 per American General share in AIG common stock subject to a collar (point where circuit breaker is tripped) mechanism. A number of regulatory approvals have already been received and all remaining approvals are expected in August, with the transaction expected to close as soon as possible thereafter. American General's quarterly cash dividend of $.24 per common share will be paid September 1, 2001, to holders of record as of August 9, 2001. This will represent the 291st consecutive and final quarterly common dividend paid by American General.
By Janet Du Chenne
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