Lincoln Financial Group rises after deal to sell wealth management business

Lincoln National

15/12/2023 17:56

** Shares of insurer Lincoln Financial Group  LNC.N  rise
3.1% to $28
    ** After market close on Thursday, the company said it had
agreed to sell its wealth management business to Osaic 
    ** Deal expected to provide about $700 mln of capital
benefit to Lincoln 
    ** Deal expected to close in first half of 2024
    ** Up to last close, stock down 11.6% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))