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.

More from Stocks

Stocks Tumble as Trump Comments Lead to Worries Over China Trade Talks

Stocks Tumble as Trump Comments Lead to Worries Over China Trade Talks

Bank Stocks Slump After Congress Greenlights Dodd-Frank Rollback

Bank Stocks Slump After Congress Greenlights Dodd-Frank Rollback

10 Questions for PayPal Ahead of Its Big Investor Day

10 Questions for PayPal Ahead of Its Big Investor Day

Tesla's Model 3 Is Far From Being for the Masses -- at Least For Now

Tesla's Model 3 Is Far From Being for the Masses -- at Least For Now

China Makes Good on Car Tariff Pledge, Tesla Wins Big

China Makes Good on Car Tariff Pledge, Tesla Wins Big