Shares in Switzerland-based banking group UBS rose by 1.22 percent on Monday morning following the company's announcement that the long-running saga of its takeover of rival Credit Suisse could be completed as early as June 12.
UBS (UBSG.S) expects to complete its takeover of Credit Suisse (CSGN.S) "as early as June 12", which will create a giant Swiss bank with a balance sheet of $1.6 trillion following a government-backed rescue earlier this year. The deal's completion is subject to the registration statement, which covers shares to…
According to latest reports UBS, the Swiss multinational financial services company, is anticipated to finalize its acquisition of Credit Suisse Group AG by June 12. This takeover has successfully prevented a significant banking crisis both in Europe and worldwide, making it a highly significant event in the eyes of analysts and experts. Following the merger of Credit Suisse into UBS, the multinational banking company's balance will approach approximately $1.6 trillion, solidifying its position as one of the largest financial institutions
UBS expects to
complete its takeover of Credit Suisse as early as
June 12, which will create a giant Swiss bank with a balance
sheet of $1.6 trillion following a government-backed rescue
earlier this. | June 5, 2023