UBS Group doubles supply and acquires Credit score Suisse for $2B

UBS Group doubled its preliminary supply and agreed to purchase its competitor Credit score Suisse for practically $2 billion on March 19, in a historic deal for the 2 greatest banks in Switzerland, the Monetary Occasions reported.

UBS beforehand put a $1 billion supply on the desk on March 18, however the deal was rejected by the Credit score Suisse board, FT sources stated. The $1 billion supply was a substantial low cost underneath the financial institution’s market worth on March 17 of practically $8 billion, in accordance to knowledge from Corporations Market Cap.

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