Lincoln National Corp., which has announced two rounds of job cuts this year, plans to raise $2.05 billion by accepting federal rescue funds and selling shares and debt to private investors.

The Philadelphia insurer said Monday that it expects to issue about $950 million of preferred stock to the government through the Treasury Department's Troubled Asset Relief Program. Lincoln also announced plans to offer $600 million of common shares on the market, along with $500 million of senior debt.

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