Shares of insurance giant MetLife (MET) are off $1.33, or 3.6%, at $35.04 after Standard & Poor’s warned it was considering a downgrade of the company’s shares on concerns over a potential acquisition of American International Group’s (AIG) American Life Insurance Co. unit. (ALICO).
MetLife CEO Robert Henrikson told analysts earlier today, on a conference call following disappointing Q4 earnings yesterday afternoon, that the company was in talks over an acquisition but that there was no certainty about a deal.
Reuters’s Jonathan Spicer in New York reportsS&P said it was concerned about “the sheer size of ALICO, and the possibility that a purchase could hurt MetLife’s financial condition and pose integration risks.”
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