Reuters Also Shoots Down CIT-Indymac Merger rumour

CIT bailout

CIT shares have continued to surge this morning following the New York Post’s report that hedge fund Paulson & Co wants to combine the lender with the Paulson-affiliated bank that used to be IndyMac. 

Right now the shares are up about 15%.

This morning we told you that a source familiar with the matter denied the report. Now a source is also telling Reuters reporter Joe Giannone that there have been no talks about merging the two companies.

“There is absolutely no relations between IndyMac and CIT. Linking the two companies is just wrong,” the source tells Reuters.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.