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MetLife (NYSE:MET): Current price $35.19
The financial services major MetLife is readying a divestiture of its United Kingdom bulk annuities unit in a deal that would bring hundreds of millions of pounds and also facilitate a further shake-up of the market. Insiders say that the company has recruited investment bankers from Citigroup to conduct an auction of its United Kingdom Assurance division and that a sale process had been initiated in recent weeks with a large number of prospective suitors being questioned regarding their interest in the business.
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