Starr: Greenberg Might Try To Acquire AIG

- Participate in a “going private” transaction.

- Make recommendations to AIG’s board.

“In particular,” the filers write, “any one or more of the Reporting Persons may (i) sell or transfer shares of Common Stock in public or private transactions (including, without limitation, transfers among Reporting Persons or between any Reporting Person and any entity affiliated with such Reporting Person, which may include entities not in existence as of the date hereof), and/or (ii) enter into privately negotiated derivative transactions and/or public purchases and sales of puts, calls and other derivative securities to hedge the market risk of some or all of their positions in the Common Stock.”

The individuals signing the filing include Greenberg, the former chairman of AIG, who now is affiliated with the Maurice R. and Corinne P. Greenberg Family Foundation and with the Maurice R. and Corinne P. Greenberg Joint Tenancy Company L.L.C.; Edward Matthews of Starr International Company Inc. and Universal Foundation Inc.; Bertil Lundqvist of C.V. Starr and the C.V. Starr & Company Inc. Trust.

SEC filings show that Greenberg and related entities and individuals appear to control about 280 million AIG shares either directly or indirectly.

The shares had a value of about $16 billion at the beginning of the year, and a value of about $1.3 billion Monday.

A New York State Insurance Department spokesman said Greenberg cannot participate in AIG’s activities in any way unless and until he receives permission from the New York department to do so.

The department has not received a request of that nature from Greenberg, the spokesman said.