CHARLOTTE, N.C. (AP) -- Some of American International Group Inc.'s shareholders want to help the company pay off the federal government's $85 billion loan and avoid ceding a majority stake in the company, The Wall Street Journal reported Friday.The shareholders are considering raising money, which could include bringing in other investors, according to the story on the Journal's Web site, which cited a person familiar with the matter.
AIG, one of the world's largest insurers, teetered on the brink of collapse early this week as it looked for fresh cash to help shore up its balance sheet, which was facing a liquidity shortfall amid the continued downturn in the credit markets. On Tuesday, the Federal Reserve agreed to provide the New York-based company with the two-year, $85 billion loan in return for a 79.9 percent stake in AIG and the ability to remove senior management.
On Thursday, AIG named former Allstate Corp. Chief Executive Officer Edward Liddy as chairman and chief executive, replacing Robert Willumstad, who took over the company in June.
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