Donaldson, Lufkin & Jenrette Inc. is expected to finance its merchant bank's acquisition of Thermadyne Holdings Corp. with a combination of bank debt, high-yield bonds, and equity that it plans to lead manage.

DLJ said Wednesday that its merchant bank, DLJ Merchant Banking Partners LP, plans to buy a majority stake in Thermadyne, a St. Louis-based maker of cutting and welding products, for $790 million.

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