Investor Icahn offers to underwrite $6b loan to CIT

NEW YORK/PHILADELPHIA: Carl Icahn, the famed corporate raider, accused finance company CIT Group Inc of trying to win support for its reorganization by overpaying for a new loan from some existing lenders.

Icahn, who told Reuters he is the largest holder of CIT Group debt, said the struggling finance company is looking to borrow $6 billion from some of its current debt investors.

The company can do better, Icahn said, noting that he will offer an equal amount of money on better terms. He also hopes to change the company's board of directors.