John Thain Denies Report/Rumor: CIT Is Absolutely Not For Sale!

24/7 Wall St.

CIT Group Inc. (NYSE: CIT) has been the subject of potential buyout rumors of late. Around 4:15 PM EST today CEO John Thain was a guest on CNBC. It was just back on Monday that we saw shares run from $39 to $41 on word that Mr. Thain was shopping CIT Group for a buyer.

Here is the crux of what matters from the CNBC appearance by John Thain:

  • CNBC’s Mario Bartoromo asked John Thain if the company was for sale. His answer: “Absolutely not! It is very disappointing that they would air a piece that they did not fact check that is not true.”
  • Maria Bartoromo also asked about whether or not the company could remain independent ahead. Thain said the company can absolutely be a standalone business ahead.

The middle-market lending is a market where CIT has replaced many traditional bank lenders. That was the case…

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