⚠️BREAKING: *UBS OFFERS TO BUY CREDIT SUISSE FOR $1 BILLION IN SHARES, A FRACTION OF ITS MARKET VALUE $UBS $CS 🇨🇭🇨🇭
) has offered to buy Credit Suisse for up to $1 billion, with the Swiss government planning to change the country's laws to bypass a shareholder vote on the deal, the Financial Times reported on Sunday.
An offer was made on Sunday morning with a price of 0.25 Swiss francs a share to be paid in UBS stock, the newspaper said, citing people familiar with the matter. Credit Suisse's shares closed at 1.86 Swiss francs on Friday.
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