Financial Services Industry
Industry: Email Alert RSS FeedLendingTree $734m deal sparks interest in finance dot-coms.
Financial News, May, 2003
Byline: Jeremy Adams in New York
Merrill Lynch has highlighted how making investment banking fees from advising dot-coms is not just a 20th century concept. Merrill, with investment banking boutique Allen & Co, last week advised LendingTree.com, an online financial services company, on its $734m ([euro]646m) sale to USA Interactive.Lee Shavel, head of specialty finance in the financial institutions group at Merrill Lynch in New York, believes the deal could reawaken the interest in a sector that might have faded from executives' consciousness. He says: "I would refer to financial companies with electronic platforms as a neglected area of the financial services industry."
The sector has been out of fashion because of the way in which online products...
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