AIG Says Breaking Up Company Does Not Make Financial Sense

American International Group Inc. said Monday it has reviewed a breakup of its business on many occasions, including in the recent past, but concluded that it does not make financial sense. The company was responding to a statement from activist investor Carl Icahn saying he did not believe AIG Chief Executive Peter Hancock is willing to "sincerely consider" the breakup proposal. Icahn said he plans to launch a consent solicitation to give other AIG shareholders the chance to express their views to the board. In response, AIG said it is planning further steps to streamline and improve its performance and would communicate those plans in the near term. Shares rose 0.7% in early trade, and are up 11.9% in the year so far, while the S&P 500 has gained 1.7%.