Prudential has confirmed it is in discussions with AIG over altering the terms of its controversial £24.5bn proposed takeover of AIA.
While Pru revealed discussions with AIG continue, it says there is no certainty it will lead to a change of the takeover's terms.
Pru has recognised it may need to change the terms of the current deal to overcome a shareholder rebellion and achieve the 75% approval necessary.
Neptune founder Robin Geffen, who set up a working group in a bid to block the deal, said earlier this week about 20% of shareholders have already indicated they are likely to give a red light to the takeover.
"We confirm that discussions regarding the current status of the transaction have taken place between Prudential and AIG and are continuing," the statement reads.
"These discussions may or may not lead to a change in the terms of the combination of AIA Group Limited and Prudential."
SM&CR is the big one
To 'future-proof advice firms'
Latest news and analysis
Three years at Wells Fargo
Effective from 9 December 2019