Financial Business Review: Prudential Acquisition of Hartford Financial Imminent, Goldman Sachs’s Campaign Problem

Prudential Financial, Inc. (NYSE:PRU) might purchase Hartford Financial Services Group Inc.’s (NYSE:HIG) individual life-insurance division as soon as Thursday, according to The Wall Street Journal. The transaction should amount to approximately $1 billion, and would be another step in Hartford’s strategy of shrinking its concentration to property-casualty and group-benefits insurance.

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Goldman Sachs Group (NYSE:GS) will shell out almost $12 million to resolve a pay-for-play scheme in which it was accused of making undisclosed campaign contributions to the Massachusetts state treasurer (at that time) when he ran for governor. The Securities and Exchange Commission says that a Goldman banker, Neil Morrison, used his office to pretty much run a campaign operation for Tim Cahill.

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