Daily News: April 11, 2013

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.

Previously on abfjournal.com:

Thain to CNBC: ‘Absolutely Not’ Seeking Buyer for CIT, Friday, September 28, 2012