UBS Plans To Close Credit Suisse Acquisition By Mid-June
Portfolio Pulse from Lekha Gupta
UBS Group AG expects to complete the acquisition of Credit Suisse Group AG by June 12, 2023. The deal is subject to SEC approval and other conditions. Credit Suisse shareholders will receive one UBS share for every 22.48 shares they own, and Credit Suisse shares will be delisted from the SIX Swiss Exchange and the NYSE.
June 05, 2023 | 9:41 am
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Credit Suisse shareholders will receive one UBS share for every 22.48 shares they own, and Credit Suisse shares will be delisted from the SIX Swiss Exchange and the NYSE after the acquisition.
The acquisition of Credit Suisse by UBS will result in the delisting of Credit Suisse shares from the SIX Swiss Exchange and the NYSE, which may have a negative short-term impact on the stock price. Shareholders will receive one UBS share for every 22.48 shares they own, which may also affect the value of their holdings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
UBS expects to complete the acquisition of Credit Suisse by June 12, 2023, subject to SEC approval and other conditions. UBS shares closed higher by 2.31% at $19.97 on Friday.
The acquisition of Credit Suisse by UBS is expected to have a positive short-term impact on UBS shares, as it expands the company's market presence and assets. The deal is subject to SEC approval and other conditions, which may introduce some uncertainty. However, UBS shares closed higher by 2.31% on Friday, indicating positive market sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100