TYCO'S CIT UP FOR GRABS.(Berkshire Hathaway Inc. is rumored to acquire CIT Group)(Brief Article)

From: HFN The Weekly Newspaper for the Home FurnishingNetwork | Date: February 25, 2002| Author: | Copyright information

PEMBROKE, Bermuda-A negotiation for the sale of Tyco International's financial unit, Tyco Capital, is in the works, management of the Bermuda-based conglomerate said last week.

Although no takers were announced, debt traders speculated that Warren Buffett's Berkshire Hathaway was eyeing Tyco Capital, which recently changed its name back to the CIT Group. Tyco acquired the CIT Group, the largest factor in the home goods industry, last year for $10 billion.

In a conference call to investors, L. Dennis Kozlowski, chairman and chief executive officer of Tyco International, ...

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