Paulson Reportedly Considering Merger of CIT and IndyMac Tuesday, September 29, 12:47 PM ET
Hedge fund manager John Paulson is reportedly mulling a merger of business lender CIT Group (NYSE:CIT) and failed mortgage lender IndyMac.
The New York Post reported that CIT creditors, including Paulson, have floated a plan for a potential merger, but that there have not been any formal discussions between CIT and IndyMac, and that other plans are also being discussed.
Paulson was part of a consortium that bought IndyMac from the FDIC.
CIT shares were trading up over seven percent Tuesday morning.
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