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The final deal to purchase Credit Suisse for CHF 3 billion ($3.2 billion) was accepted by the board of Credit Suisse prior to the opening of Asian financial markets on Monday morning. The acquisition was an all-stock deal, with Credit Suisse shareholders receiving 1 UBS share per 22.48 Credit Suisse shares, equivalent to CHF 0.76 per share.
ZURICH/FRANKFURT/LONDON (Reuters) -The United States is pursuing an inquiry into Russian clients that UBS took on when it bought Credit Suisse, three people familiar with the matter said ...
Credit Suisse injected $725 million to keep First Boston in business, [38] which ultimately led to the company being taken over by Credit Suisse. [39] This became known as the "burning bed" deal, because the Federal Reserve overlooked the Glass–Steagall Act that requires separation between commercial and investment banks in order to preserve ...
There is controversy over the role of the Swiss National Bank in the transfer of Nazi gold during World War II. The SNB was the largest gold distribution centre in continental Europe before the war. A study by the U.S. Department of State in 1997 notes that the bank "must have known that some portion of the gold it was receiving from the ...
Credit Suisse collapsed in March 2023 after a series of scandals and setbacks, and was taken over by UBS. UBS welcomed the ruling, noting that the case was a legacy matter relating to Credit Suisse.
Watch from Zurich as news breaks that Credit Suisse will be taken over by its larger rival, UBS. This feed shows the scene outside the Swiss bank as the financial capital of Switzerland wakes to ...
UBS acquired rival Credit Suisse in an emergency rescue deal brokered by the Swiss government and its Central bank in 2023, following which UBS' AUM increased to over $5 trillion along with an increased balanced sheet of $1.6 trillion. [19]
The exemption, first reported by Reuters, is retroactive and applies from June 2023 when the bank took over failed rival Credit Suisse.