NEW YORK — Denied a federal bailout, CIT Group Inc. said late Thursday its board and management continue to seek alternatives to shore up the company's cash position and remain in talks with potential lenders to secure financing and stave off a bankruptcy protection filing.
CIT saw its shares plunge 75 percent Thursday as bondholders scrambled to find an 11th-hour solution that would keep the commercial lender out of Chapter 11. But there is no guarantee they will be able to...
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