AIG Spiking In Pre-Market (AIG)

Shares of AIG AIG are spiking in pre-market trading, after the company announced an exit plan to rid itself of government assistance and return to the private markets. The plan is for the Treasury Department to convert about $49 billion in AIG preferred shares into common stock. According to the plan, the Treasury will receive around 1.655 billion shares of AIG common stock. Shares of AIG are up $4.45 in pre-market trading to $41.90, a gain of 11.8%.