Deutsche Bank offering large J.C. Penney block: CNBC

Mon Mar 4, 2013 6:19pm EST

The sign outside the J.C. Penney store is seen in Westminster, Colorado February 20, 2009. REUTERS/Rick Wilking

The sign outside the J.C. Penney store is seen in Westminster, Colorado February 20, 2009.

Credit: Reuters/Rick Wilking

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(Reuters) - Deutsche Bank (DBKGn.DE) is offering a block of 10 million J.C. Penney (JCP.N) shares at a price of between $16.40 and $16.60 per share, CNBC reported on Monday.

J.C. Penney shares fell 5.6 percent in after-hours trading. The company has about 219 million shares outstanding.

(Reporting By Ben Berkowitz; Editing by Bernard Orr)

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