Lehman Bros (LEH) Jumps 10% on Oversubscribed Offer

Lehman Brothers (NYSE: LEH) is up 10% in pre-open trading following the $4 billion Convertible Preferred offering, which was raised from $3 billion due to a significant oversubscription.

Lehman has been the target of many liquidity rumors and short-covering is likely contributing to this morning's move. [LJ]

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