Aames Financial Confirms Merger Talk

Aames Financial Corp. confirmed Monday that it is for sale. The Los Angeles subprime lender said in its fiscal year earnings release that it had retained Donaldson, Lufkin & Jenrette to explore a "possible business combination."

American Banker reported last week that Aames had hired DLJ to find a buyer and that Washington Mutual Inc. and California Federal Savings Bank were the leading candidates.