UBS Expects to Complete Credit Suisse Acquisition as Early as June 12
June 05 2023 - 1:31AM
Dow Jones News
By Pierre Bertrand
UBS Group said it expects to complete its acquisition of Swiss
peer Credit Suisse Group as early as June 12.
Upon completion, Credit Suisse's shares and American depositary
shares will be delisted from the SIX Swiss Exchange and the New
York Stock Exchange, UBS said in a statement Monday.
UBS, which received the European Union's clearance for its
takeover of Credit Suisse last month, said Credit Suisse
shareholders will receive one UBS share for every 22.48 outstanding
shares held.
It added that Credit Suisse Group's obligations under its
outstanding debt securities will become UBS obligations.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
June 05, 2023 01:16 ET (05:16 GMT)
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