NEW YORK - Credit Suisse Group said Monday that it had received clearance from the European Commission for its acquisition of Donaldson Lufkin & Jenrette.
The Zurich-based Swiss banking company said it had extended its offer to acquire DLJ shares until midnight Nov. 2, from Oct. 11. The company said the extension was for "technical" reasons "to help facilitate an orderly integration" and "not the effect of market conditions."
Credit Suisse First Boston, the Swiss company's U.S.-based investment banking arm, will absorb the DLJ operations. Allen Wheat, chief executive officer of Credit Suisse First Boston, said in a press statement that he was pleased with the progress of integration to date. He noted that the transaction was moving along faster than other comparable deals.