Lehman Rallies After Report on Stock Offer - TheStreet

Lehman Rallies After Report on Stock Offer

The investment bank reportedly will offer stock to employees to retain talent, which investors interpreted as a sign it will not sell itself on the cheap.
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Lehman Brothers

(LEH)

shares rallied Wednesday after a

CNBC

report that the investment bank plans to offer stock to employees as a means of retaining top talent.

The troubled bank's stock jumped almost 12% after the report, which investors interpreted as a sign a sale of the firm is not imminent. Rumors that Lehman was on the verge of a fire sale to

Barclays

(BCS) - Get Report

or some other suitor, a la

Bear Stearns'

sale to

JPMorgan Chase

(JPM) - Get Report

in March, have hit the stock all week.

Employees will receive 20% of last year's bonus in stock that vests over three years,

CNBC

said. Lehman declined to comment on the report.

Shares closed Wednesday up 6.7% to $22.36.

This article was written by a staff member of TheStreet.com.