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AIG and Fed still working out details of pact: filing

NEW YORK
Fri Sep 19, 2008 6:03pm EDT

NEW YORK (Reuters) - American International Group Inc on Friday carefully reworded and replaced an earlier regulatory filing indicating it and federal authorities are still at the drawing board on details of an $85 billion bailout.

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AIG said it was re-filing with the U.S. Securities and Exchange Commission to correct certain errors, and removed language that had appeared in a filing on Thursday indicating AIG would seek shareholder approval for its plan to issue warrants to the government.

In the new filing, AIG said "the corporate approvals and formalities necessary to create this equity interest will depend upon its form."

A spokesman declined to comment further.

AIG, on the verge of collapse after its large mortgage exposure led to $18 billion in losses over the past three quarters, earlier this week agreed to the federal bailout in exchange giving the government a 79.9 percent stake, which will heavily dilute shareholders.

(Reporting by Lilla Zuill; Editing by Steve Orlofsky and Bernard Orr)
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