Lehman diluting shareholder value to prove a point
Read the full article: http://www.bloomberg.com/apps/news?pid=20601087&sid=aOUguDZ3...
It seems that Lehman is going to issue $3 billion worth of convertible bonds despite the fact that it claimed easy access to cash in addition to its $30 billion of cash on hand. So, why issue convertible bonds for what amounts to a piddling amount of cash that will ultimately only dilute shareholder value?
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