Fuji F&M To Go Private Via TOB

Fuji Fire and Marine Insurance Co., a medium-sized non-life insurance firm, announced that Fuji F&M approved a tender offer from Chartis Japan Capital Company LLC, which was set up by Chartis Inc, an non-life insurance unit of AIG Group. The TOB price is set at 146 yen, a 29% premium over a 3-month average. The AIG group originally held 54.66% shares of Fuji F&M.