UBS to buy Credit Suisse for $4.5b in historic deal to end crisis
UBS Group has agreed to buy Credit Suisse Group in a historic, government-brokered deal aimed at containing a crisis of confidence that threatened to spread across global financial markets.
The Swiss bank is paying 3 billion Swiss francs ($4.5 billion) for its rival in an all-share deal that includes extensive government guarantees and liquidity provisions. The price is less than half the 7.4 billion francs Credit Suisse was worth at the close of trading on Friday.
Bloomberg
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