UBS offers to buy Credit Suisse for up to $1 billion -FT
Reuters | Updated: 19-03-2023 17:21 IST | Created: 19-03-2023 17:18 IST
UBS Group AG has offered to buy Credit Suisse for up to $1 billion, with the Swiss government planning to change the country's laws to bypass a shareholder vote on the transaction, the Financial Times reported on Sunday.
The proposed all-share deal between Switzerland's two biggest banks is set to be signed as soon as Sunday evening, the report said, adding that the deal will be priced at a fraction of Credit Suisse's closing price on Friday.
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