UBS to buy Credit Suisse for more than $3 billion in deal backed by Swiss government
Struggling Swiss banking giant Credit Suisse has agreed to be bought by its arch-rival UBS at a discount to Friday's close price, after seeing a wave of customer deposits exit the bank.
| Date: | Mar. 19, 2023 3:42 PM ET |
| Link: | More at "MarketWatch" |
| Source: | MarketWatch.com - Top Stories - marketwatch.com |
| Category: | Business |
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UBS Agrees to Buy Credit Suisse for More Than $3 Billion
The deal was engineered by regulators and is designed to restore trust in the banking system.
Mar. 19, 2023 - WSJ.com: US Business - Business -
Swiss bank USB is acquiring smaller rival Credit Suisse for over $3 billion
Swiss bank USB is acquiring smaller rival Credit Suisse for over $3 billion
Mar. 19, 2023 - ABC News: International - World -
UBS to buy Credit Suisse for nearly $3.25B to calm turmoil
Swiss President Alain Berset said banking giant UBS is acquiring its smaller rival Credit Suisse for almost $3.25 billion in an effort to avoid further market-shaking turmoil in global banking
Mar. 19, 2023 - ABC News: International - World -
UBS agrees $3.25bn rescue deal for rival Credit Suisse
Regulators engineer takeover of stricken bank by larger Swiss competitor after frantic weekend
Mar. 19, 2023 - UK homepage - Business -
Credit Suisse shares slide after UBS buys it for $3.2 billion
"Only time will tell how this shotgun wedding is received," one analyst said of merger uniting the Swiss banks.
Mar. 20, 2023 - Home - CBSNews.com - Top stories -
Credit Suisse shares slide after UBS buys it for $3.2 billion
"Only time will tell how this shotgun wedding is received," one analyst said of merger uniting the Swiss banks.
Mar. 20, 2023 - World - CBSNews.com - World -
UBS offers to buy Credit Suisse for 'substantially' more than $1 billion, sources say
A sale to UBS comes after Credit Suisse shares logged their worst weekly decline since the onset of the coronavirus pandemic.
Mar. 19, 2023 - US Top News and Analysis - Business -
UBS reportedly offers to buy Credit Suisse for up to $1 billion
Swiss banking giant UBS on Sunday offered to buy its embattled rival Credit Suisse for up to $1 billion, according to the Financial Times, citing four people with direct knowledge of the situation.
Mar. 19, 2023 - NBC News Politics - Politics -
UBS agrees to takeover of stricken Credit Suisse for $3.25bn
Swiss government forces through takeover at well below market value amid fears of global banking crisisMillions paid in bonuses to UK SVB staff days after £1 rescueBank runs, bailouts, rescues: are the ghosts of 2008 rising again?The Swiss ...
Mar. 19, 2023 - The Guardian - World -
Swiss president announces plan for Swiss bank UBS to take over troubled rival Credit Suisse
Swiss president announces plan for Swiss bank UBS to take over troubled rival Credit Suisse
Mar. 19, 2023 - ABC News: International - World -
Market Extra: Here’s why UBS’s deal to buy Credit Suisse matters to U.S. investors
Financial markets will tell the story on Monday of whether UBS's more than $3 billion deal for Credit Suisse is enough to calm down at least one side of the Atlantic.
Mar. 19, 2023 - MarketWatch.com - Top Stories - Business -
UBS brings back Ermotti as CEO with Credit Suisse deal ahead
UBS says it’s bringing back former CEO Sergio Ermotti to lead the Swiss bank as it moves forward with a government-orchestrated plan to take over struggling rival Credit Suisse
4 hours ago - ABC News: Top Stories - Top stories -
UBS Brings Back Former CEO After Credit Suisse Deal
Sergio Ermotti, who previously ran UBS for nine years, will return as the Swiss bank moves into a new era following the $3.2 billion agreement.
5 hours ago - WSJ.com: World News - World -
UBS brings back Ermotti as CEO with Credit Suisse deal ahead
UBS says it’s bringing back former CEO Sergio Ermotti to lead the Swiss bank as it moves forward with a government-orchestrated plan to take over struggling rival Credit Suisse
12 hours ago - ABC News: International - World -
Majority of Swiss want new UBS-Credit Suisse mega bank split up
Results of poll add momentum to calls for a review of the forced merger and for the clawing back of bonuses
Mar. 24, 2023 - UK homepage - Business -
Majority of Swiss want new UBS-Credit Suisse mega bank split up
Results of poll add momentum to calls for a review of the forced merger and for the clawing back of bonuses
Mar. 24, 2023 - World - World -
How the Swiss ‘trinity’ forced UBS to save Credit Suisse
The takeover of its local rival could end up being a generational boon for UBS. But the government-orchestrated deal has angered many investors
Mar. 20, 2023 - UK homepage - Business -
UBS credit outlook revised to negative by S&P on concerns about risk in Credit Suisse deal
S&P Global Ratings said it expects the integration of large parts of Credit Suisse's investment banking activities to carry material execution risk.
Mar. 20, 2023 - MarketWatch.com - Top Stories - Business -
Swiss under fire for shotgun marriage of Credit Suisse and UBS
Bondholders and international regulators criticise state decision to prioritise shareholders amid threat of legal action
Mar. 20, 2023 - UK homepage - Business -
Swiss bank UBS takes over ailing Credit Suisse
Banking giant UBS is buying its smaller rival Credit Suisse for almost $3.25 billion, in an effort to avoid further market-shaking turmoil in global banking.
Mar. 20, 2023 - GANNETT Syndication Service - Top stories -
Swiss regulator defends controversial $17 billion writedown of Credit Suisse bonds
Swiss regulator FINMA on Thursday defended its decision to instruct Credit Suisse to write down its AT1 bonds — a controversial part of the lender's emergency sale to UBS.
Mar. 23, 2023 - US Top News and Analysis - Business -
Credit Suisse to borrow up to nearly $54 billion from Swiss National Bank
Credit Suisse announced it will be borrowing up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank under a covered loan facility and a short-term liquidity facility.
Mar. 16, 2023 - US Top News and Analysis - Business -
Credit Suisse to borrow about $54 billion from Swiss central bank
Credit Suisse announced late Wednesday it was taking "decisive action" and borrowing up to 50 billion Swiss francs -- about $54 billion -- to ease investor fears.
Mar. 15, 2023 - MarketWatch.com - Top Stories - Business -
US bondholders prepare to sue Swiss government over $17bn Credit Suisse wipeout
Distressed asset investor David Tepper says trust in European debt issuance at stake
Mar. 22, 2023 - UK homepage - Business -
UBS is buying Credit Suisse in a bid to halt the banking crisis
Switzerland's biggest bank, UBS, has agreed to buy its ailing rival Credit Suisse in an emergency rescue deal aimed at stemming financial market panic unleashed by the failure of two American banks earlier this month.
Mar. 20, 2023 - CNN.com - RSS Channel - HP Hero - Top stories