Ally Financial Delays $6B IPO

Auto and mortgage lender Ally Financial, which is majority-owned by the U.S. government, has delayed its $6 billion initial public offering due to bad market conditions, Reuters reported. In addition to the Treasury, buyout shop Cerberus Capital Management owns a 9% stake. Citi, Goldman Sachs, JPMorgan, Morgan Stanley, Barclays Capital and Deutsche Bank Securities are the underwriters for the offering.

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