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MetLife Sells Shares

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An insurer has raised $2.3 billion for “potential strategic initiatives” and for general corporate purposes.

MetLife Inc., New York, says it raised the money by completing previously announced plans to sell common stock to the public.

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MetLife sold 75 million shares through a public offering, and it sold 11.25 million additional shares through an arrangement with the offering underwriters.

Credit Suisse Securities (USA) L.L.C., New York, was the sole bookrunning manager of the offering, MetLife says.