CNA Financial Corp., the second largest U.S. business insurer,dropped plans to sell its life insurance units because potentialbuyers were unwilling to meet its billion-dollar price.
The company, controlled by billionaire investor Laurence Tisch andhis family, has decided "not to sell these businesses for less thanthey are worth to CNA," said Bernard L. Hengesbaugh, chairman andchief executive.
In March, Chicago-based CNA hired Donaldson, Lufkin & Jenrette tosell its individual life, long-term care and retirement servicesunits to focus on its main …
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