The buy, which breaks down to $90 per share, would flip DLJ from AXA SA of Paris, which holds roughly 70%, and do so at roughly three times the book value. The inflated price is being attributed to the interest in DLJ expressed by various competitors, such as Lehman Brothers.
GlobeSt.com is currently fleshing out how precisely the buy would affect the commercial real estate investment market and the global strategies of CSFB over the coming months. Also under investigation is the impact that Wall Street mergers will have on the industry. More to follow.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
