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Hartford to Sell Stock, Take Treasury Funds
Hartford Financial (HIG Quote) plans to sell up to $750 million stock and said it will participate in the U.S. Treasury's Capital Purchase Program.
In a statement, the insurer said it received notice of preliminary approval to participate in the government program last month and is eligible for about $3.4 billion.
Hartford plans to use proceeds from the stock sales for general corporate purchases, including possibly buying back debt. ...
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