UBS to acquire Credit Suisse for $3.23 bln

UBS Group will acquire rival Credit Suisse for 3 billion Swiss Francs ($3.23 billion) the companies said on Sunday.

Under the terms of the all-share deal, Credit Suisse shareholders will receive 1 UBS share for every 22.48 Credit Suisse shares held for a total consideration of 3 billion francs. ($1 = 0.9280 Swiss francs)