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Before accepting its pricey $3B rescue from bondholders, CIT Group (NYSE:CIT) reportedly...

Jul. 22, 2009 7:55 AM ETFirst Citizens BancShares, Inc. (FCNCA)GE, FCNCABy: Rachael Granby, SA News Editor
Before accepting its pricey $3B rescue from bondholders, CIT Group (NYSE:CIT) reportedly rejected an offer from GE (NYSE:GE) for $2B in senior secured loans backed by aircraft. The GE offer was cheaper and required fewer assets, but the deal structure meant cash wouldn't be available until July 31.

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