India, April 9 -- Shares of Lincoln National Corp. (LNC) were gaining around 11 percent in the pre-market activity on the NYSE after the company on Wednesday announced an $825 million strategic growth investment from investment firm Bain Capital.
Lincoln National, with marketing name Lincoln Financial, noted that Bain Capital will acquire a 9.9% stake in the firm. The transaction, subject to customary closing conditions including regulatory approvals, is anticipated to close in the second half of 2025.
The companies have signed a definitive agreement for the sale of a 9.9% equity stake on a post-issuance basis in Lincoln for $825 million in an all-cash transaction. Lincoln will sell around 18.8 million shares of its common stock for $44.0...