August 30, 2010 at 08:00 PM
Shares of a northeastern insurer rose more than 8% Friday on news the company might be a takeover target, according to a published report.
Shares of Lincoln National Corp., Radnor, Pa., closed at $23.73 on Friday, a 10% gain. The stock price rise follows speculation, described in a MarketWatch Inc. article published Friday, that the Manufacturers Life Insurance Co., Toronto, is seeking to acquire the company.
Manulife’s shares also rose 3.4% on Friday, closing at $11.43.
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