Paulson mulls CIT-IndyMac merger: report

Reuters – Hedge fund manager John Paulson is considering merging troubled U.S. finance company CIT Group Inc with failed mortgage lender IndyMac Federal Bank, the New York Post said, citing people familiar with the matter.

CIT shares rose 9.6 percent, or 16 cents, to $1.83 in morning trading.

According to the paper, the merger, a plan floated by a number of CIT creditors, including Paulson, is not part of any formal discussions between CIT and IndyMac.

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