J.P. Morgan & Co. and Credit Suisse First Boston delivered "highly confident" letters to Clayton, Dubilier & Rice Inc. last week regarding its $900 million recapitalization of Dynatech Corp., a Burlington, Mass.-based telecommunications service company.

Clayton Dubilier, a New York-based investment firm, announced Monday that it would lead a group of investors, including top management, to recapitalize the company. Clayton Dubilier will put $277 million of its own equity into the transaction.

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