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News > Deals
DLJ rejects takeover talk
July 15, 1997: 7:39 a.m. ET

Investment bank officials dismiss speculation parent mulling sale
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NEW YORK (CNNfn) - Speculation is rising that investment banking firm Donaldson Lufkin & Jenrette Inc. could be put on the block, despite statements from the firm's senior management that no such move is under way.
     Wall Street analysts believe that executives of DLJ's parent company, Equitables Cos., have recently softened their stance on retaining control of the investment bank, the Wall Street Journal reported on Tuesday.
     However, DLJ's Chairman John Chalsty dismissed those assertions, telling the Journal that the company is "not for sale and there is no change in our position."
     The speculation comes as DLJ on Monday released record second-quarter profits of $100.2 million, or $1.54 a share. The results were well above expectations and enhance the firm's attractiveness as a target to U.S. commercial banks that are seeking to buy into the investment banking business.Back to top

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