Lender CIT to buy OneWest Bank, formerly IndyMac, for $3.4 billion - Los Angeles Times
Description
OneWest Bank in Pasadena, born from the ashes of failed high-risk home lender IndyMac Bank, has agreed to be acquired by commercial lender CIT Group for $3.4 billion, a hugely profitable deal for the hedge-fund and private-equity investors that have owned the bank for five years.
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