UBS to acquire Credit Suisse for $3.25 billion

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Financial Times - UBS to acquire Credit Suisse for $3.25 billion after frantic talks

Business, Business Briefing, News Briefing

Summary of the front page

The Financial Times leads with the news that UBS will take over its troubled rival Credit Suisse.

After a week of frantic negotiations UBS agreed to buy Credit Suisse for $3.25bn, the Financial Times reports.

The paper says the historic deal followed five days during which the Swiss establishment raced to end a deepening crisis that threatened the country’s second-largest lender.

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