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UBS Group says it was rushed into unwanted Credit Suisse rescue merger

UBS, in a Tuesday filing to the US Securities and Exchange Commission, told investors it had less than four days to conduct due diligence given the "emergency circumstances". It estimated a hit of about $17 billion from the takeover.

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International Business: UBS says it was rushed into unwanted Credit Suisse rescue merger

International Business: UBS says it was rushed into unwanted Credit Suisse rescue merger
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Was rushed into Credit Suisse merger, says UBS

A regulatory filing showed on Tuesday (May 16) that banking giant UBS felt that it was rushed into buying rival Credit Suisse in a deal it did not want. UBS told its investors in a filing to US Securities and Exchange Commission that it had less than four days to carry out due dilligence. It estimated a hit of about $17 billion from the takeover. UBS is Switzerland's biggest bank. It agreed to buy Credit Suisse as its finances worsened given global situation.

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UBS says it was forced into undesired Credit Suisse rescue merger

UBS Group has revealed that it was compelled to engage in an unwanted buying of its cross-town rival Credit Suisse Group amid a global banking crisis that.

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