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Wednesday, March 29, 2023

UBS offers to buy Credit Suisse for up to $1 billion: Report

UBS Group AG has offered to buy Credit Suisse for up to $1 billion, with the Swiss government planning to change the country’s laws to bypass a shareholder vote on the deal, the Financial Times reported on Sunday.The proposed all-share deal between Switzerland’s two biggest banks is set to be signed as soon as Sunday evening, the report said, adding that the deal will be priced at a fraction of Credit Suisse’s closing price on Friday.

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Author: Reuters

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