The Firm is representing J.P. Morgan Securities in its role as financial advisor to CIT Group Inc. (NYSE: CIT) in connection with CIT’s announced acquisition of the parent company of OneWest Bank N.A. for approximately $3.4 billion in cash and common stock. The transaction has been approved by the boards of directors of both companies and is subject to regulatory approvals and other customary closing conditions.
Founded in 1908, CIT Group Inc. is a financial holding company with approximately $35 billion in financing and leasing assets. It provides financing, leasing and advisory services to its clients and their customers across more than 30 industries. OneWest Bank is a Southern California bank with 73 retail branches located throughout Southern California and total assets of $23 billion.
The Simpson Thacher team includes Lee Meyerson and Ariel Oxman (M&A).
