UBS nears takeover of Credit Suisse in mammoth deal to ease investor fears

Image Source :- Google.com/images

Swiss bank UBS is reportedly racing against time to complete a takeover of rival Credit Suisse to stave off investor panic when the markets open on Monday.

[{"selector":"#anim-7e899d44-a501-4f20-bad2-fd61e0d9be02","keyframes":{"transform":["translate3d(103.64584%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-685645c2-a86a-44a4-af56-cfdf36e2b606","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-32623b8c-9361-4c1b-a68a-f9e9380702bd","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-f4dbc945-6c22-4a98-8be2-4eb9a1556607","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d82db789-1485-4b39-812d-5393b17c0b9e","keyframes":{"transform":["translate3d(0px, 488.14921%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0e689b52-8d28-4c20-8ffb-3dcf3c7a598d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Image Source :- Google.com/images

[{"selector":"#anim-5039c612-eda7-4415-9e32-072b192b430e","keyframes":{"transform":["translate3d(103.64584%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-229ca2b8-6e64-46a8-bdff-2735ebe03482","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-287c96b6-facc-484e-afac-a24dc8d7f1cc","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-657ec02e-ae2a-4203-a813-34b14452d332","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c2fdebbd-8be2-46da-8b0c-3d1c10c74bc7","keyframes":{"transform":["translate3d(0px, 488.14921%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4190b83b-075b-4684-9343-72ae9a8fc563 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] The country’s biggest banks are said to be in urgent talks, with the government, central bank, and financial regulators all involved. Image Source :- Google.com/images

Switzerland’s authorities are urging UBS to push through the deal and avoid potential damage to the markets.

[{"selector":"#anim-140e2cea-e477-42ba-9e1c-0c66c780a1e5","keyframes":{"transform":["translate3d(110.08403%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f40aadf8-5cbc-4fa6-9f60-d6d8433f8a75","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a3ac6ab8-2f1c-4b55-a0f6-22bb77766e92","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-57033e25-6a85-44eb-9908-a392c7c3d0a0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dcff7927-2f0d-4ae0-b75a-6549301306d3","keyframes":{"transform":["translate3d(0px, 488.14921%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-002909c8-d352-4c26-bed8-28ac5520d364 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Image Source :- Google.com/images

The Swiss government, President Alain Berset, and the banks’ executives have been seen heading to the finance ministry in Bern for talks over the weekend.

[{"selector":"#anim-c0fc6b92-e827-4800-b065-4245185d484e","keyframes":{"transform":["translate3d(108.54702%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-43e44e11-fc9b-4b90-913f-58c51c910260","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-041ef0a9-76d2-43ce-ae05-7686549e04ef","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-a96ea720-7038-4cec-b3fa-d2a4710993a5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-54d78ea3-e2be-4993-b8c9-769e44d63643","keyframes":{"transform":["translate3d(0px, 488.14921%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c8e62cfb-eb42-4e64-9115-25d4ad10b51f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Image Source :- Google.com/images

A deal of this scale could take several months, but UBS reportedly had a few days to get it done.

[{"selector":"#anim-96bc3b76-48b1-4210-83a7-94a51e29df37","keyframes":{"transform":["translate3d(107.86516%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-09ee2137-af9c-4350-8a9f-2813ab3b83a5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5c96b350-c557-43f6-832c-106ff7c15ed2","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-c044906d-fb53-4412-9296-9515281703f4","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-63694751-be7b-44df-b33e-96d943e8ef6d","keyframes":{"transform":["translate3d(0px, 488.14921%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4833f68f-6393-4c12-bb76-b8bb7946c04b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Image Source :- Google.com/images

Under normal Swiss rules, UBS would have to consult shareholders over six weeks, but it can skip this process using emergency measures.

[{"selector":"#anim-b22a9cbe-02a8-4231-86d8-f5d55f015202","keyframes":{"transform":["translate3d(103.64584%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e2152df9-16f3-425f-867c-1a451ce249b8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-06a00fca-aa50-4455-a629-08d2659e0e54","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-d490739c-7db5-4123-8c51-a6d4c2628be8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-25b33345-d18d-4b1d-9bc2-66b640025808","keyframes":{"transform":["translate3d(0px, 488.14921%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4b388254-fd0d-46df-bc0d-861c65307e86 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Image Source :- Google.com/images

Public guarantees would also be required to cover legal costs and possible losses.

[{"selector":"#anim-c8897438-de96-4783-9b93-bbbfa0144b4a","keyframes":{"transform":["translate3d(103.64584%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9b075c37-6937-4a33-968c-0492bea681b7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bd5219b9-7759-4b3f-a961-31d247702f45","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-108f1d5a-95c6-42fa-922d-2c5a546abeb5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fcdc00dd-0af1-48b3-9e78-79c91f33bc42","keyframes":{"transform":["translate3d(0px, 488.14921%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9b2cb572-6d65-4eea-81df-66cc6738daa2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Image Source :- Google.com/images

Credit Suisse, the Swiss financial watchdog FINMA, and the SNB central bank have declined to comment on the negotiations,

[{"selector":"#anim-f91cf876-d5ee-4986-8c7e-36d4293b0343","keyframes":{"transform":["translate3d(103.64584%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d618a01e-02d1-4d60-abee-e72b56f6ed99","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-30c572c2-2611-4246-9685-538956458c73","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-89fb17a1-4e2c-4931-9f62-2a9964fbc402","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0e2791ea-a4a9-4cff-89cc-bde670312082","keyframes":{"transform":["translate3d(0px, 488.14921%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-aa2ede7f-f56a-464f-b18a-209375d3c4c3 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Image Source :- Google.com/images

while the government has yet to respond to the matter.

[{"selector":"#anim-1507c178-1b9c-4470-9d49-26aa891989cd","keyframes":{"transform":["translate3d(103.64584%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d438d07a-aa67-4c67-812f-618cd2c33685","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b2652cab-9633-401d-8606-73f545ebbcc1","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-e512f074-7f0a-468c-854a-4144dd0961bc","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c485b470-91d5-402b-8955-ae29ac9f975e","keyframes":{"transform":["translate3d(0px, 488.14921%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7ff7a492-5421-4011-b9c3-b3ca937ae958 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Image Source :- Google.com/images

Read Full Article Here

[{"selector":"#anim-ab7b74ec-f4fc-4eb4-964d-b78b1f3f7bcf","keyframes":{"transform":["translate3d(-108.90804%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6aa12d5f-3d28-4ac1-993b-393deacc9840","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e943087a-53c5-4d8a-9903-69e6718589be","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-e8e702e0-e9f4-4819-9fd2-433ab7542116 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Learn more