UBS Group doubles offer and acquires Credit Suisse for $2B By Cointelegraph
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UBS Group doubled its initial offer and agreed to buy its competitor Credit Suisse for nearly $2 billion on March 19, in a historical deal for the two biggest banks in Switzerland, the Financial Times reported.
UBS previously put a $1 billion offer on the table on March 18, but the deal was rejected by the Credit Suisse board, FT sources said. The $1 billion offer was a considerable discount under the bank’s market value on March 17 of nearly $8 billion, according to data from Companies Market Cap.
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© Reuters.
UBS Group doubled its initial offer and agreed to buy its competitor Credit Suisse for nearly $2 billion on March 19, in a historical deal for the two biggest banks in Switzerland, the Financial Times reported.
UBS previously put a $1 billion offer on the table on March 18, but the deal was rejected by the Credit Suisse board, FT sources said. The $1 billion offer was a considerable discount under the bank’s market value on March 17 of nearly $8 billion, according to data from Companies Market Cap.
Continue Reading on Coin Telegraph
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