In June, the board of American International Group rejected a $30 billion offer by Prudential PLC for AIG’s Asian Insurance unit. The decision came just after Prudential shareholders nixed the British insurer’s $35 billion bid for Hong Kong-based AIA.

It was back to the drawing board for John Vasily of Debevoise & Plimpton, who had been trying to sell off AIA and pull it out of AIG’s portfolio since the troubled insurer received federal bailout money in September 2008.

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