UBS offers to buy Credit Suisse for up to $1 billion -FT

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.