UBS buys Credit Suisse in government-brokered, $3.2 billion all-share deal

BUSINESS DAILY © FRANCE 24

Credit Suisse, a storied bank established in the 19th century, is in its last days as an independent entity. Switzerland's largest bank UBS has agreed to acquire it in a $3.2 billion all-share deal. The forced takeover was brokered by regulators and the Swiss government, who feared reputational damage to the country's financial sector and wanted to stop the crisis spreading further. We take a closer look.