Manulife Financial Files $4 Billion Offering (MFC, LNC)

Manulife Financial Corporation MFC just filed a $4 billion offering. Shares of Lincoln National Corp. LNC are reversing course, starting to move significantly higher on this news as there is that rumor that Lincoln has been the subject of takeover rumors. On Friday, Benzinga reported that Lincoln was the report of unconfirmed takeover rumors, and shares were up 10% on much stronger than normal volume. Shares are currently down 2.7% after having been down as much as 4% earlier in the day. Bear in mind this is all speculation at this point, but it looks like there is some credence to these rumors. Shares of Lincoln are currently trading at $23.06, with 4.3 million shares having exchanged hands.