Credit Suisse to acquire DLJ for $13.4 billion

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Zurich, Switzerland--In one of the biggest financial services deals in recent memory, Credit Suisse Group announced that it will buy New York-based investment bank Donaldson, Lufkin & Jenrette for $13.4 billion. The pact's b-to-b ramifications are marked. Overnight, Credit Suisse becomes a serious contender with the top global investment and Internet-oriented banks, Goldman Sachs & Co. and Morgan Stanley Dean Witter & Co. It also comes less than two weeks after Donaldson, Lufkin & Jenrette affiliate DLJ Merchant Banking Partners agreed to buy b-to-b media company Advanstar Inc. for $900 million.
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