Resolves YES if in March 2023, UBS and Credit Suisse announce an agreement to a merger/acquisition deal. Otherwise NO. It is not necessary for the deal to close, or for regulatory or shareholder approval to be given, this resolves YES as soon as an agreed deal is officially announced.
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Announcement by UBS and Swiss National Bank.
UBS has agreed to buy Credit Suisse after increasing its offer to more than $2bn, with Swiss authorities poised to change the country’s laws to bypass a shareholder vote on the transaction as they rush to finalise a deal before Monday.
UBS has agreed to buy Credit Suisse after increasing its offer to more than $2bn, with Swiss authorities poised to change the country’s laws to bypass a shareholder vote as they rush to announce a deal before Monday. The all-share deal between Switzerland’s two biggest banks is set to be announced as soon as Sunday evening and will be priced at a fraction of Credit Suisse’s closing price on Friday, all but wiping out the target’s shareholders, three people with direct knowledge of the situation said.
Will resolve this market when announced by the companies.