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BRIEFLY

Shearson Lehman priced its initial offering.

May 07, 1987

The offering of 18 million common shares of the New York-based brokerage was priced at $34 a share. Of those shares, 14 million will be offered in the United States, with the remainder sold internationally. American Express, which until the offering owned 100% of Shearson, will own 60.5% after the deal.

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