Warren Buffett was approached twice to help AIG

March 13, 2009 - 8:52am | News | Other themes |
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Warren Buffett was approached twice to help AIG

According to Bloomberg, in the last days before the U.S. government rescued American International Group Inc, Warren Buffett was applied to twice to help the company.

As Berkshire Hathaway Inc chairman told to Bloomberg, on Friday night in September Buffett received a phone call from Robert Willumstad, AIG’s chief executive at the time, and choose not to bid on part of the insurer's U.S. property-casualty operation. Two days after he got a second offer to participate in a transaction when a cash injection by a private group didn't materialize. 

Concerning this second offer Buffet said that it involved "an insurance transaction that might have occurred in conjunction with a big injection of funds by some group - I don't even know who was necessarily in it - on Sunday night, - and that never went anyplace” He told that it wasn’t very tough, to resist an investment, as “they needed more than we could supply by far”.







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