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Low UBS bid triggers “horror” at CS - Printable Version

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Low UBS bid triggers “horror” at CS - theold - 19-03-2023

Insiders are said to be in “absolute horror” among the CS bosses. According to CS, the offer is too low and would damage the shareholders too much - just like employees who have an interest in the bank's share capital. The UBS offer would be equivalent to 25 centimes per share. At the close of trading on Friday, a CS paper was still worth 1.86 francs. That makes a market value of 7.4 billion Swiss francs.

Like CS, the Saudi National Bank, as a shareholder, also rejects UBS's takeover bid. The Saudi National Bank only acquired a 9.9 percent stake in Credit Suisse in autumn 2022 – at a price of CHF 4 per share. Now she is to be fobbed off with the UBS offer of 25 centimes per share.