This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Lehman Wooed Korean Suitors: Report

Updated from 8:59 a.m. EDT

Lehman Brothers (LEH) was in talks with potential Korean partners prior to announcing plans to raise $6 billion through common and preferred stock offerings earlier this week, The Financial Times reported Wednesday.

The firm, which on Monday warned it would suffer a $2.8 billion first-quarter loss, plans to sell $4 billion in common and $2 billion in preferred shares on Thursday. The firm warned of the loss early and raised the money as its share price was hammered in recent weeks as rumors persisted about its capital position.

The Financial Times said Lehman still may strike a strategic deal with a Korean partner by the end of the year. Potential investors include Korea Development Bank, Kookmin Bank (KB - Get Report), Korea First Bank, the Korean Pension Service and Korean Investment Corp., the government-controlled fund that invested in Merrill Lynch (MER).

Cramer: Lehman Not Out of the Woods

Citigroup (C - Get Report), Morgan Stanley (MS - Get Report) and Bear Stearns, since acquired by JPMorgan Chase (JPM - Get Report), also have taken on strategic partners abroad during the credit crisis.

Lehman shares have plummeted more than 66% over the past year. The stock closed down 6.7% to $27.50 Tuesday.

Shares were down another 3.6% to $26.50 in recent trading Wednesday.
This article was written by a staff member of

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
C $54.22 0.26%
KB $30.52 -0.26%
JPM $67.22 0.54%
MS $33.78 0.51%
AAPL $117.82 -0.18%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs