News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Tyco settles for low valuation in CIT sale

CIT, the US financial services group, compromised on price to complete its initial public offering while Medco, the healthcare services company, put its flotation back to next week.

CIT, being spun off from Tyco, the US conglomerate, sold for just $4.6bn (€4.7bn) in an IPO managed by Goldman Sachs and Lehman Brothers.

WSJ Logo