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Analysts reacted positively today to news that American International Group proposed to expand its stake in 21st Century Insurance Group by buying the remaining portion for roughly $690 million.

New York-based AIG said last night it has submitted a letter to the board of directors of the Woodland Hills, Calif.-based personal lines insurer, proposing to acquire 38.1 percent of shares publicly held for $19.75 per share in cash.

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