UBS to Finalize Credit Suisse Takeover by June 12
The takeover of Credit Suisse by UBS is expected to be finalized by June 12, 2023, resulting in the creation of a giant Swiss Bank with a balance sheet of $1.6 trillion after receiving government-backed rescue. However, the completion of the deal is contingent upon the registration statement for shares being deemed effective. On Monday, UBS stated that the remaining closing conditions, including regulatory approval from the SEC, are still pending. It has been announced that UBS Group ‘AG’ will merge with Credit Suisse Group.