UBS to acquire Credit Suisse for $3.23 bln

Reuters | Updated: 20-03-2023 00:45 IST | Created: 20-03-2023 00:45 IST
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)

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