The U.S. Treasury Department could soon free Lincoln National Corp. from the smothering embrace of the Troubled Asset Relief Program (TARP).
The department is moving ahead with previously announced plans to sell warrant positions in Lincoln, Radnor, Pa. (NYSE:LNC).
The departant plans to make a secondary public offering of about 13 million warrants to buy Lincoln common stock and keep the proceeds from the warrant sale.
The offering is set to start at 8 a.m. EDT Thursday and close at 6:30 p.m. The minimum bid price is $13.50 per warrant.