UBS Buying Credit Suisse for More Than $2 Billion: “Is a Bailout”

BREAKING: UBS has agreed to buy Credit Suisse for more than $2 billion, according to the Financial Times

Credit Suisse was a $7 billion company on Friday

— Genevieve Roch-Decter, CFA (@GRDecter) March 19, 2023

This is what the final deal looks like: UBS to buy Credit Suisse for CHF0.76 per share, or CHF3bn. Credit Suisse holders will get 1 UBS share for every 22.48 shares. UBS says Ralph Hampers will be CEO of combined bank. Complete write-down of nominal value of all AT1 shares of CS. pic.twitter.com/nJYVbYLJ6A

— Holger Zschaepitz (@Schuldensuehner) March 19, 2023

UBS's deal to take over Credit Suisse "is a bailout," says Bloomberg Opinion contributor Mohamed El-Erian (@elerianm) https://t.co/6getChRaKN pic.twitter.com/LatgXr5E1M

— Bloomberg (@business) March 19, 2023

NOW – Swiss government confirms Credit Suisse takeover by UBS and says, "the bankruptcy of a global systematically important bank would have caused irreparable economic turmoil." pic.twitter.com/tAP88HMKu3

— Disclose.tv (@disclosetv) March 19, 2023

Credit Suisse’s crisis is also the result of years of steady decline.

The once-mighty lender went from $1.2 trillion in total assets on the eve of the 2008 financial crash to less than half as much now https://t.co/27rCyJc44q pic.twitter.com/dgHc56l6jc

— Bloomberg (@business) March 19, 2023