UBS to complete Credit Suisse acquisition as early as 12 June

Later than expected

UBS is set to complete the acquisition of Credit Suisse as early as 12 June, later than the initial target of the end of May or start of June.

In two separate statements, the banks said today (5 June) they will be merged by the date. Credit Suisse will delist from the New York Stock Exchange on 12 June, and from the Swiss SIX exchange on 13 June. Completion is subject to the registration statement, which covers shares to be delivered, being declared effective by the US Securities and Exchange Commission, and other remaining closing conditions, UBS added. UBS agrees to buy Credit Suisse for $3.3bn Under the all-share takeover, Credit Suisse shareholders will receive one UBS share for every 22.48 shares they held. UBS ha...