Carl Icahn To The Rescue At CIT?

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According to reports, via CNBC, Carl Icahn may come to the rescue of CIT (CIT), as he’s offered to underwrite a $6 billion loan to the company. In a letter to the company, Icahn slammed the board, saying there’s no reason that existing directors should still be in control (which is probably true0. Shares of CIT are up over 10% this morning.

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