Two giant finance companies startled the industry Tuesday by announcing premium-priced deals that would radically reshape specialty lending. The announcements left the market awaiting a wave of further deals.

First, Green Tree Financial Corp., the recently troubled manufactured- housing giant, announced an agreement to sell itself to the insurance company Conseco Inc. for $7.6 billion, or $52.928 a share, well above the Monday closing price of $29 a share. The newly merged entity would have more than 11 million customers and managed assets of $60 billion.

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