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News Explorer — UBS Agrees to Buy Credit Suisse for Over $2 Billion

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Mar 19, 6:11 pm
www.ft.com

UBS Agrees to Buy Credit Suisse for Over $2 Billion

UBS has reached an agreement to acquire Credit Suisse in a deal worth more than $2 billion after increasing its all-share offer. The deal, which is expected to be announced as soon as Sunday evening, bypasses a shareholder vote due to changes in Swiss laws. The acquisition will bring together Switzerland's two largest banks, and will still heavily dilute the value of shares held by Credit Suisse shareholders. The Swiss National Bank has been involved in the discussions to ensure the financial stability of the country as the merger progresses.

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