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Equitable Life completed its acquisition of DLJ.

January 18, 1985

About 11.6 million shares of common stock and 44,784 shares of series A convertible preferred stock of Donaldson, Lufkin & Jenrette Inc. were purchased by Equitable Life Assurance Society at $30 and $230.769, respectively, under Equitable's tender offer for all outstanding shares of DLJ. Equitable purchased an additional 600,000 shares of common stock in the open market before the tender offer and 165,100 shares of series A convertible preferred stock after the offer ended under a previous agreement.

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