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SNB’s chairman, Ammar Al Khudairy, said Credit Suisse was “a very strong bank” and was unlikely to need more cash after raising 4bn Swiss francs (£3.59bn) to fund a major restructuring plan ...
Credit Suisse Group AG (NYSE: CS) shares fell Friday premarket after reports that the company is looking to raise fresh capital. The Swiss bank is approaching the investors for the fourth time in ...
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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.
Acquisition of Credit Suisse by UBS. UBS Group AG, supported by the Swiss government, reaches a deal to merge with Credit Suisse as the latter faces imminent insolvency. Disasters and accidents. At least 19 people are killed and 25 others are injured when their bus falls into a ditch in Madaripur District, Dhaka Division, Bangladesh.
Its share price plunged 25% on the news and UBS stepped in to buy the bank. Axel Lehmann, former chairman of the bank, later sought to blame the American bank failures for triggering Credit Suisse's demise, though other analysts disputed that characterization. The bank had experienced many years of multi-billion dollar losses, scandals ...
The concerns about Credit Suisse added to broader banking sector fears sparked by last week's collapse of Silicon Valley Bank (SVB) and Signature Bank, two U.S. mid-size firms.
After much speculation and concern about a banking crisis, UBS made its play for its stricken long-time Swiss rival late Sunday by agreeing to a $3.2 billion takeover of Credit Suisse .