Starr bids to purchase all AIG’s shares

C.V. Starr & Co., the private firm controlled by former American International Group Inc. ceo Maurice “Hank” Greenberg, recently offered to purchase all shares from AIG executives. According to AIG, “most or all” executives will likely accept the offer and tender all shares they own in C.V. Starr & Co.In a recent filing, C.V. Starr said it planned to offer $426 per share to anyone who is not an employee or director of the Company. Greenberg took enforced retirement from AIG last March due to investigations into the Company’s accounting practices but he still runs C.V. Starr, which is a group of insurance agencies initiated by Cornelius Vander Starr who also founded AIG. The two companies severed their ties earlier this year and a tender will enhance this separation.C.V. Starr instigated a tender offer for much of its stock in early December. Earlier this year AIG executives and directors owned 74.87% of C.V. Starr’s common stock and over half of its preferred stock with Greenberg holding the largest individual stake.