The formal details of UBS's takeunder of Credit Suisse are below:
https://www.ubs.com/global/en/media/display-page-ndp/en-20230319-tree.html
Hat tip to hacks at the Financial Times who led the reporting of the merger talks over the weekend with a series of scoops.
Will this be enough to stem the fear ripping through the banking sector in Europe and the US?..
At least Bill Ackman was kind enough to keep his mouth shout long enough for the Financial Times to publish their mega scoop about UBS holding talks about merger with Credit Suisse.
Hat tip to the reporting team at the venerable Financial Times for landing that scoop. Below is a link to it:
https://www.ft.com/content/17892f24-4ca0-417f-9093-289b019a0852..
Some mixed messages coming through from one of Credit Suisse's largest shareholders - veteran American investor David Herro of Harris Associates.
Yesterday, he told hacks at Financial News asked Herro, who is third largest shareholder in Credit Suisse, if he would support a State Street takeover. He told the newspaper backing any bid “all depends on price. For the right buyer [or] price, we would be supportive”. Below is the link to the piece:..
Hacks at Reuters are giving the Credit Suisse UBS merger rumours a fresh airing.
Yesterday the newswire wrote a piece suggesting the combination of the two Swiss banks is being studied, again. Below is the link:
Rumours about a merger of the two Swiss investment banking giants - Credit Suisse and UBS - rumble on thanks to, er, the banks' top executives.
You might recall in late Summer a little known 'Inside Paradeplatz' revealed UBS and Credit Suisse held taks about a mega merger. The story was then swiftly followed by the venerable Financial Times...
Two weeks ago 'Inside Paradeplatz' revealed UBS and Credit Suisse held taks about a mega merger. That story was then swiftly followed up by the likes of the venerable Financial Times, suggesting there was something to it. ..
And one I forgot to add to today's Merger Monday list: a combination of rival Swiss banks UBS and Credit Suisse.
That's according to 'Inside Paradeplatz', a Swiss website I have never heard of...
Smoothy chops uber banker Andrea Orcel has lost his criminal case against Spanish bank Santander. Below is a link to the FT piece on the topic:
https://www.ft.com/content/b8d88544-4f32-11ea-95a0-43d18ec715f5..
The Hong Kong exchange did manage to drum up some other advisers alongside Moelis to join its bid for London Stock Exchange (HSBC and UBS) but in the end it was too late. Yes, this morning the Asian exchange said it is pulling out - quelle surprise. Below is the link to the company's statement:..
Betaville applauds the Evening Standard's excellent City Spy column yesterday sticking up for a young Finanical Times hack that just a couple of days ago was viciously attacked on Twitter by UBS for "agenda journalism"...