Dresdner Bank has confirmed that it will buy US investment bank Wasserstein Perella for $1.37bn (€1.60bn) in stock.
The acquisition will strengthen the US M&A operations of Dresdner Kleinwort Benson, the investment banking arm of Dresdner Bank, as Wasserstein Perella is ranked fifth in the US M&A advisory league tables for the first half of 2000 based on deal value, according to Thomson Financial Securities Data.