- UBS shares slide 7%, Credit Suisse craters 61% after takeover deal.
- Swiss authorities and regulators helped to facilitate the deal in order to stem the risk of contagion to the global banking system, as Credit Suisse teetered on the brink.
- UBS Chairman Colm Kelleher said the acquisition was “attractive” for UBS shareholders, but clarified that, “as far as Credit Suisse is concerned, this is an emergency rescue.”
