Mergers and Acquisitions: Prudential Buys Hartford Division, European Aeronautic & BAE News
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 on property-casualty and group-benefits insurance.
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European Aeronautic’s (EADSY.PK) proposed linkup with BAE Systems (BAESY.PK) might yet avoid a full review by European Union regulators, due to a law that can exempt defense-industry deals from antitrust inquiry. However, products with dual civilian-military use will remain subject to review.