Chinatrust Financial, one of the losing bidders for Nan Shan Life, said it is investigating the results of the sale, Reuters reported.
AIG sold the unit to
Primus Financial, which agreed to pay $2.15 billion, but Chinatrust actually bid $2.4 billion for Nan Shan,
Reuters reported citing sources close to the deal.
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Chinatrust Chief Investment Officer Daniel Wu said at an investor conference in Taipei on Monday that he is not ruling out taking legal action. Not only was Chinatrust's bid higher, he said, but its proposal to take care of Nan Shan employees was, according to Chinatrust, also better.The sale of Nan Shan was AIG's most lucrative deal since it began selling off assets last year in an effort to repay its $85 billion loan from the government. -- Reported by Jeanine Poggi in New York Follow TheStreet.com on Twitter and become a fan on Facebook.