Henry,
I like this...
Credit Suisse First Boston could benefit from the deal in several ways. Not only will the acquisition boosts its U.S. presence, it also would be helped by DLJ's strength in high-yield bonds.
On Tuesday, DLJ's stock (DLJ: news, msgs) reached a 52-week high of 82 1/4, up 16 7/16 on volume of more than 6 million shares.
DLJdirect (DIR: news, msgs), a tracking stock for DLJ's online operation, also posted a big gain, rising 2 1/4, or 28 percent, to 10 3/16 as of 4 p.m. Eastern time.
To some observers, suitors might view DLJdirect, an established online service, as one of the brokerage's biggest assets.
Analysts have said the speculation about DLJ itself gained currency because it followed a period when PaineWebber agreed to be acquired by UBS and Bear Stearns said it might be looking for a suitor of its own.
Those developments have been seen as a prelude to what could turn into a new buying spree of securities firms.
Regards,
Rob |
