Several bidders are eyeing American International Group's ( AIG) asset management business, The Wall Street Journal reported Tuesday.

The AIG business, which according to the report has about $100 billion under management, has drawn attention from private equity firms Ashmore Investment Management, Hellman & Friedman, Rhone Group and TA Associates. Mutual fund managers Franklin Templeton Investments and Southgate Alternative Investments are also taking a look, according to the report.

AIG is scrambling to pay back some $170 billion in government money, and the buyers, aware of this, are making lowball bids of $400 million to $800 million, well below the $1 billion to $2 billion these assets would ordinarily be worth, according to the newspaper.

AIG shares were losing 2.7% to $1.07 in recent premarket trading.

If you liked this article you might like

CEOs Are Dropping Like Flies

Downgraded AIG Isn't Finished Falling

Downgraded AIG Isn't Finished Falling

Former AIG CEO Greenberg Can Pursue Defamation Suit Against Spitzer

How to Make Easy Money on Apple's iPhone X Worldwide Reveal: Market Recon