Failed bid is a huge cost to Prudential
Prudential, one of the worlds largest insurance companies, has said that their failed bid to obtain AIA (the Asian arm of AIG) has cost them more than £377m before tax relief. Even though this collosal loss would be enough to cripple most companies AIA have said this is less than they had originally though.

In June, after pressures from major Prudential shareholders, Prudential attempted to renegotiate an earlier deal in an effort to get $3 to $5 off AIA's asking price, this attempt did not go down well with the AIA shareholders and the takeover was abandoned.

The deal was to make Prudential SE Asia's leading insurer.

However this has not dented Prudentials profit as the company announces a 34% rise in its 1st half operating profit totaling £1.68bn.

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