Bloomberg: Thain Transforms CIT Into M&A Target
Bloomberg reported that John Thain, who sold Merrill Lynch for a premium at the height of the financial crisis, has transformed the once-bankrupt lender CIT into an enticing takeover target for some of the largest banks.
The article said that TD Bank and Wells Fargo could be attracted to CIT as a way to make more money by providing financing to non-Standard & Poor’s 500 Index companies, citing information from Ely & Co.
To read the full Bloomberg article click here.
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