UBS share price

2023 - 3 - 19

UBS to acquire Credit Suisse (UBS)

Creates leading global wealth manager with USD 5 trillion of invested assets across the Group · Extends UBS lead in Swiss home market · UBS strategy unchanged, ...

Under the terms of the all-share transaction, Credit Suisse shareholders will receive 1 UBS share for every 22.48 Credit Suisse shares held, equivalent to CHF 0.76/share for a total consideration of CHF 3 billion. The combined businesses will be a leading asset manager in Europe, with invested assets of more than USD 1.5 trillion. UBS Chief Executive Officer Ralph Hamers said: “Bringing UBS and Credit Suisse together will build on UBS’s strengths and further enhance our ability to serve our clients globally and deepen our best-in-class capabilities. It will further strengthen UBS’s position as the leading Swiss-based global wealth manager with more than USD 3.4 trillion in invested assets on a combined basis, operating in the most attractive growth markets. We have structured a transaction which will preserve the value left in the business while limiting our downside exposure. The combination is expected to create a business with more than USD 5 trillion in total invested assets and sustainable value opportunities.

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UBS To Buy Credit Suisse in $2 Billion All Stock Deal (Investopedia)

Financial Times reports that the two banks had little interaction, and that the Swiss government is working on changing rules that require a six-week ...

[ailing stock price](https://www.investopedia.com/shares-of-credit-suisse-plummet-to-all-time-lows-7255792). Most recently, the firm found ["material weakness"](https://www.investopedia.com/credit-suisse-material-weakness-7255239) in its accounting procedures, delaying its annual report and sparking questions from the U.S. 3 The Swiss National Bank will also offer UBS a 100 billion CHF ($108 billion) credit line to sweeten the terms.4 However, this transaction means a "complete write-down) of 16 billion CHF ($17.28 billion) of Credit Suisse bonds that will become worth nothing.2 We have structured a transaction which will preserve the value left in the business while limiting our downside exposure. "[A]s far as Credit Suisse is concerned, this is an emergency rescue.

UBS Buying Rival Credit Suisse In $3.2 Billion Rescue Deal (Forbes)

The government-brokered deal aims to prevent turmoil at Credit Suisse—worsened by two massive U.S. bank failures last week—from spiraling into a larger ...

[What's Happening With Credit Suisse, Explained: Embattled Bank Rattles Stock Market As Banking Crisis Deepens](https://www.forbes.com/sites/ariannajohnson/2023/03/16/whats-happening-with-credit-suisse-explained-embattled-bank-rattles-stock-market-as-banking-crisis-deepens/?sh=68b78b3f35a2) (Forbes) [UBS offers to buy Credit Suisse for up to $1bn But the bank’s downfall wasn’t directly caused by SVB and Signature, and its problems predate the current crisis, as it ended the 2022 fiscal year with a loss of nearly $8 billion. On Tuesday, the bank said it had found “material weaknesses” in its 2021 and 2022 financial reporting processes. In response, its biggest backer, the Saudi National Bank, said it wouldn’t buy any more shares in Credit Suisse. The recent collapses of Silicon Valley Bank and Signature Bank in the U.S., triggered partially by rising interest rates, caused uncertainty about wider vulnerabilities in the banking system worldwide—concerns that intensified after warning signs appeared at Credit Suisse. That’s how much Credit Suisse borrowed from the Swiss National Bank on Thursday. Financial Times](https://www.ft.com/content/ec4be743-052a-4381-a923-c2fbd7ea9cfd) (Financial Times) [UBS Nears Deal to Buy Credit Suisse - The New York Times](https://www.nytimes.com/2023/03/19/business/ubs-credit-suisse.html) (New York Times) [Credit Suisse Said to Push Back Against UBS’s $1 Billion Offer](https://www.bloomberg.com/news/articles/2023-03-19/credit-suisse-said-to-push-back-against-ubs-s-1-billion-offer?srnd=premium&sref=h6OFVeND) (Bloomberg) [UBS Offers $1 Billion to Buy Credit Suisse](https://www.wsj.com/articles/ubs-offers-1-billion-to-take-over-credit-suisse-bfac51fa?st=xgxhbro7darct8y&reflink=desktopwebshare_permalink) (Wall Street Journal) The central bank [fell up to 21%](https://www.forbes.com/sites/roberthart/2023/03/15/credit-suisse-stock-plunges-to-record-low-as-bank-concerns-grow/#:~:text=Trading%20in%20Credit%20Suisse%20shares,weaknesses%E2%80%9D%20in%20its%20financial%20reporting.). [two](https://www.ubs.com/global/en/media/display-page-ndp/en-20230319-tree.html?caasID=CAAS-ActivityStream) [banks](https://www.credit-suisse.com/about-us-news/en/articles/media-releases/credit-suisse-and-ubs-to-merge-202303.html) announced Sunday, as bank executives and Swiss officials sprint to contain a crisis sparked in part by the collapse of two major U.S. [not requiring UBS](https://www.ubs.com/global/en/media/display-page-ndp/en-20230319-tree.html?caasID=CAAS-ActivityStream) to get shareholder approval. [statement](https://www.ubs.com/global/en/media/display-page-ndp/en-20230319-tree.html?caasID=CAAS-ActivityStream) late Sunday.

UBS shares slide 14%, Credit Suisse craters 63% after takeover deal (CNBC)

UBS Chairman Colm Kelleher said the acquisition was “attractive” for UBS shareholders, but clarified that, “as far as Credit Suisse is concerned, this is an emergency rescue.”.

The size of Credit Suisse was a concern for the banking system, as was its global footprint given its multiple international subsidiaries. This could set in train renewed jitters about the health of banks." "Acquiring Credit Suisse's capabilities in wealth, asset management and Swiss universal banking will augment UBS's strategy of growing its capital-light businesses." The bank's Chairman Colm Kelleher said the acquisition was "attractive" for UBS shareholders but clarified that "as far as Credit Suisse is concerned, this is an emergency rescue." Credit Suisse shares collapsed by 60% at around 9:05 a.m. London time (5:05 a.m.

Live news: Treat Credit Suisse as a competitor until deal closes ... (Financial Times)

François Villeroy de Galhau said French banks 'a strong grip on risk' © Bloomberg. France's central bank governor has insisted the health of the French ...

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UBS share price plunges by 13.5% (Anadolu Agency)

ISTANBUL. The share price of Swiss lender UBS plunged by around 13.5% after purchasing its rival Credit Suisse, which was in deep financial trouble.

[Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. In an effort to reduce any risks to UBS, the federal government is also awarding the lender a 9-billion-Swiss-franc ($9.79-billion) guarantee to cover potential losses on certain assets UBS assumes as part of the deal, should any future losses exceed a certain threshold. The price of UBS shares dropped to 14.81 Swiss francs ($15.94) as of 0845GMT, from 17.20 francs ($18.51) at market close on Friday.

Asia markets mostly fall after UBS agrees to $3.2 billion takeover of ... (CNBC)

Asian markets trade lower as investors assess UBS' $3.2 billion purchase of Credit Suisse.

Bancorp](/quotes/USB/) lost 2%. [First Republic](/quotes/FRC/). [Bank of America](https://www.cnbc.com/quotes/BAC/), [Wells Fargo](https://www.cnbc.com/quotes/WFC/), [Citigroup](https://www.cnbc.com/quotes/C/) and [JPMorgan Chase](https://www.cnbc.com/quotes/JPM/) said Thursday they would contribute about $5 billion apiece to First Republic as part of the rescue plan. [Truist Financia](/quotes/TFC/)l and [State Street](/quotes/STT/) fell about 3% each before the bell, while [PNC](/quotes/PNC/), [Bank of New York Mellon](/quotes/BK/) and [U.S. on what happens with the state of the markets and this financial instability risk over the next few days." Friday's nosedive has brought the stock down more than 70% from where it started the week. The combined bank will have $5 trillion of invested assets, according to UBS. But market observers say the central bank's next decision on interest rates has been made less certain over the past week amid the bank crisis. Credit Suisse saw its shares tumble last week after its largest investor, the Saudi National Bank, declined to provide additional funding. Swiss regulators played a key role in facilitating the deal in an effort to quell a contagion threatening the banking sector. It said, however, Flagstar's bid did not include the roughly $4 billion in deposits related to Signature's digital banking business. dollar swap line arrangements from weekly to daily.

Credit Suisse stock nosedives 65%, UBS falls nearly 16% as ... (Livemint)

On Sunday, both UBS and Credit Suisse announced the takeover deal. UBS will be the surviving entity. The Zurich-headquartered bank will acquire Credit ...

UBS will be the surviving entity. The Zurich-headquartered bank will acquire Credit Suisse for CHF 3 billion (approximately $3.25 billion). On Sunday, both UBS and Credit Suisse announced the takeover deal.

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