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Pru Nets $970 Million in Stock Sale

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Prudential Financial Inc. announced it has completed a public offering of over 18 million shares of its common stock, netting proceeds of about $970 million.

Prudential (NYSE:PRU), Newark, N.J., plans to use the proceeds from the sale to help pay for its planned purchase of AIG Star Life Insurance Co. Ltd and AIG Edison Life Insurance Company from American International Group Inc.