Lehman Brothers is close to raising $5 billion in fresh capital and could book a loss of more than $2 billion in the second-quarter, The Wall Street Journal reported citing unnamed sources.
Most analysts have been predicting a loss of about $300 million, the report said. It also named the New Jersey Division of Investment as one of the possible investors.
People close to the firm told CNBC last week that Lehman executives were weighing whether to pre-announce results in an effort to dispel market rumors that the firm is facing a liquidity crisis.
The troubled investment bank is expected to announce details of its capital raising plan on Monday or Tuesday, the paper said.
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