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A new activist hedge fund started by two former J.P. Morgan Chase & Co. deal makers has taken a stake in CIT Group Inc. and wants the lender to break up, echoing a call that other investors have quietly made in recent months.Hudson Executive Capital LP, which Douglas Braunstein and James Woolery started last year, on Monday disclosed in a securities filing that it owns about 0.5% of CIT. Hudson Executive believes the best strategy for CIT would be to sell off its various pieces given the bank’s recent underperformance, according to people familiar with the matter.
J.P. Morgan Chase & Co. has agreed to acquire nearly $1 billion worth of personal loans arranged by LendingClub Corp., according to people familiar with the deal.
The National Football League reached agreement with CBS and NBC to share its Thursday night prime-time package of games along with the league-owned cable channel NFL Network, people familiar with the matter said.