UBS flags US$17 billion hit from Credit Suisse takeover

UBS expects gain on Credit Suisse

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UBS Says Its Rescue of Credit Suisse Was a Rushed Deal With Unclear Risks

Switzerland's biggest bank UBS said that it was unable to carry out a comprehensive assessment of the assets ...

Was rushed into Credit Suisse merger, says UBS

A regulatory filing showed on Tuesday (May 16) that banking giant UBS felt that it was rushed into buying rival Credit Suisse in a deal it did not want. UBS told its investors in a filing to US Securities and Exchange Commission that it had less than four days to carry out due dilligence. It estimated a hit of about $17 billion from the takeover. UBS is Switzerland's biggest bank. It agreed to buy Credit Suisse as its finances worsened given gl

UBS admitted it couldn't do full due diligence on Credit Suisse because of the rushed rescue merger

Swiss bank UBS estimated a $17 billion loss from its pending takeover of Credit Suisse in a filing to the US Securities and Exchange Commission on Tuesday (May 16), including an estimated $4 billion cost from litigation and regulatory costs related to the merger. Read more...

UBS to make $35bn in Credit Suisse takeover – but lose $17bn in rushed deal

UBS says it will absorb costs related to litigation, regulatory matters and liability adjustments in emergency rescueUBS is in line to make an almost $35bn (£28bn) gain after its emergency takeover of Credit Suisse – but has said it will take a $17bn hit from costs related to the rushed rescue deal.The Swiss lender has said it will make gains of $34.8bn after taking on Credit Suisse, based on an initial assessment of data until the end of last y…

UBS flags $17 billion hit from Credit Suisse takeover

UBS estimates a negative impact of $13 billion from fair value adjustments of the combined group's assets and liabilities. It also sees $4 billion in potential litigation and regulatory costs stemming from outflows.