CIT: Be Acquired Or Make A Purchase To Avoid Activist?

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…