Shotgun Wedding Of Credit Suisse And USB Already Isn’t Working

  • 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.”
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