UBS agrees to buy Credit Suisse for more than $2 billion, Financial Times reports

The logo of Credit Suisse is pictured in front of the Swiss Parliament Building, in Bern, Switzerland, March 19, 2023. REUTERS/Denis Balibousehas agreed to buy Credit Suisse after increasing its offer to more than $2 billion, the Financial Times reported on Sunday.

UBS will pay more than 0.50 francs a share in its own stock, far below Credit Suisse’s closing price of 1.86 francs on Friday, FT reported, citing sources. The Swiss National Bank has agreed to offer a $100 billion liquidity line to Credit Suisse as part of the deal, the FT added, citing two people familiar with the matter.

According to the report, UBS has agreed to a softening of a material adverse change clause that would void the deal if its credit default spreads jump.Reporting by Shubham Kalia in Bengaluru Editing by Frances Kerry and Barbara Lewis

Hey elonmusk tootsie roll TootsieRoll worth more than $cs lol Why didnt you buy it?! Fed is going to have a hard time raising rates…

WHO

I guess $3.2 billion is 'more than' $2 billion but generally-speaking there's a pedantically minute issue of the 60% gap between them...

Le Credit Suisse acheté 2 milliards ? ils doivent avoir encore pas mal d'or nazi dans leurs coffres. Autrement, cela ne vaut pas cela.

The crash has been cancelled. Or at least rescheduled.

coucou Thinker_View

The politicians knew that Trump had reversed the Dodd act, and yet did nothing. They're are all corrupt.

wow. the collapse is imminent

What!!?😧😧😧😧

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