As activist rumors swirl around CIT Group Inc. (NYSE:CIT), the stock down 16 percent year to date and the company set to report earnings tomorrow, talk centers around CEO John Thain potentially making a bank purchase with the idea to become a systemically important financial institution (SIFI). CIT to make an acquisition to fend off a potential activist investor A new research report from BTIG research notes the company may make an acquisition to fend off a potential activist investor, working like a poison pill of sorts. Concerns about CIT’s potential purchase of a large bank include the belief that such…
CIT: Be Acquired Or Make A Purchase To Avoid Activist?
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.