Franklin Templeton eyes AIG unit

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Franklin Templeton Investments has emerged as the leading bidder for AIG’s asset-management business, a deal that also has drawn interest from Australia’s Macquarie Group and Religare Enterprises of India, reports the WSJ. The AIG Investments unit, which manages about $85bn in assets, is expected to fetch about $500m, well below the $800m some suitors proposed paying just two months ago. A deal could be completed by the end of June.