MetLife Announces Common Stock Offerings Totaling 146M Shares

MetLife, Inc. MET announced today plans to offer 68,570,000 shares of its common stock to the public. ALICO Holdings LLC, a subsidiary of American International Group, Inc. AIG, is also offering 78,239,712 shares of MetLife common stock to the public, for a total offering of 146,809,712 shares. Concurrently with the common stock offerings, AIG is also offering 40,000,000 common equity units of MetLife. The common stock offerings are not conditioned on the completion of the common equity unit offering. AIG received the 78,239,712 shares of MetLife common stock and the 40,000,000 common equity units as part of the consideration for MetLife's acquisition of Alico on November 1, 2010. Additionally, AIG acquired 6,857,000 shares of contingent convertible preferred stock, which are convertible into 68,570,000 shares of MetLife common stock upon a favorable vote of MetLife's common stockholders.