Daily News: June 3, 2013

Bloomberg: CIT Draws Renewed Takeover Speculation

Bloomberg reported that CIT may have become a more attractive takeover target now that the Federal Reserve Bank of New York lifted crisis-era sanctions against the company.

Bloomberg added that CIT’s stock rose as much as 7.4% on May 30 to its best level since February 2011 when it announced the end of the written agreement with the New York Fed and that CIT later said it would buy back as much as $200 million of its shares.

To read the entire Bloomberg story, click here.