UBS Predicts Takeover of Credit Suisse to be Completed by June 12

According to UBS, the takeover of Credit Suisse is expected to be completed by June 12 at the earliest. The acquisition has been in the works for a while, with UBS pursuing Credit Suisse’s wealth management and investment banking services. The acquisition has also been prolonged due to the financial struggles that Credit Suisse has been facing.

However, recent reports suggest that UBS may delay its results after Credit Suisse’s rescue. Fox Business reports that UBS may have to put its results on hold due to the uncertainty surrounding Credit Suisse’s rescue, which is expected to cost billions of dollars. Meanwhile, Bloomberg reports that UBS plans to complete the takeover by June 12, and Reuters predicts that the deal will be sealed by that date.

UBS is also reportedly eyeing the retention of Credit Suisse’s investment bankers in Asia. According to Finews.asia, UBS is interested in retaining Credit Suisse’s investment bankers in the region, as it seeks to expand its business in Asia. This move is expected to strengthen UBS’ position in international markets, as the bank already has a strong presence in Switzerland.

Overall, the completion of the Credit Suisse takeover will be a big moment for UBS, as it seeks to expand its wealth management and investment banking services. The acquisition will also allow UBS to better compete with other large financial institutions, such as JPMorgan and Goldman Sachs.