Zurich, Frankfurt The leaders of UBS and Credit Suisse continue to negotiate an emergency merger of the two banks on Sunday, with the participation of supervisors and government officials. Now UBS has put an offer on the table: it would be willing to take over Credit Suisse for around one billion dollars, or CHF 0.25 per share. Financial circles confirmed the offer, which was first reported by the “Financial Times”.
As can be heard from the environment surrounding the negotiations, Credit Suisse is resisting the takeover bid. It would mean a significant discount compared to the recent stock market value. At the close of trading on Friday, Credit Suisse shares were listed at around CHF 1.86, with a market capitalization of around CHF 7 billion.
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