Banking, finance, and taxes
Lehman (LEH) May Raise Cash, Dilute Shareholders
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Lehman (LEH) may have to raise several billion dollars. With its market cap below $13 billion, that could be painful for current holders of its common shares. According to Reuters, "Lehman Brothers Holdings Inc is expected to follow in Merrill Lynch & Co Inc’s footsteps and sell a lot of risky assets at a loss."
Lehman currently has $65 billion in mortgage-related paper.
With a share price of just over $18, bringing in another $5 billion could drive the stock closer to $10.
Douglas A. McIntyre
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