U.S. Treasury Plans Auction for Hartford, Lincoln TARP Warrants
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The U.S. Treasury Department plans to auction warrants tied to the bailouts of Hartford Financial Services Group Inc. and Lincoln National Corp., adding to $7.2 billion raised by similar sales and buybacks.
Warrants in the two insurers may sell for $871 million, according to Pluris Valuation Advisors LLC. The Treasury could get about $13 for each of 52 million Hartford warrants obtained by the Troubled Asset Relief Program, and $15 each for 13 million Lincoln warrants, said Espen Robak, president of New York-based Pluris.