Franklin Templeton is reportedly no longer pursuing AIG's asset management business. Franklin and its lead adviser, former Franklin executive Chuck Johnson, walked away from two-month exclusive negotiations with AIG over the weekend due to "irreconcilable strategic differences within the bidding group," the report stated.

Franklin's bidding partners, New York private equity firm Crestview Partners LP and Richard Li, remain interested in a deal, according to the report. 

Edited by: Armie Margaret Lee


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE