Switzerland’s UBS to acquire Credit Suisse for $3.2 bln

Logo of UBS 

UBS stated that it submitted a bid to buy Credit Suisse at CHF 0.76 a share, totaling CHF 3 billion ($3.2 billion).

Under the transaction terms, Credit Suisse shareholders will hold one share of UBS in return for 22.48 shares of Credit Suisse.
 

Switzerland's central bank said it will provide liquidity to both banks if the deal is completed, noting that the deal aims to achieve financial stability and protect the Swiss economy in an exceptional situation.