Icahn Helps To Finance CIT Bankruptcy

02 Nov 2009

Billionaire investor Carl Icahn, whose USD4.5 billion offer to help keep CIT Group afloat was rebuffed by the troubled lender, has agreed to supply the firm USD1 billion to finance its pre-packaged bankruptcy.

Billionaire investor Carl Icahn, whose USD4.5 billion offer to help keep CIT Group afloat was rebuffed by the troubled lender, has agreed to supply the firm USD1 billion to finance its pre-packaged bankruptcy. In addition, CIT has inked a deal with Goldman Sachs to keep a credit line ...

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