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Topic #1: UBS acquires Credit Suisse
Credit Suisse, one of the world’s largest banks, has been taken over by its long-time rival UBS for $3.25 billion. The acquisition, which was announced on March 20th, marks the end of an era for Credit Suisse, which had been in business for 167 years. The deal will see each shareholder of Credit Suisse receive 1 share in UBS for every 22.48 Credit Suisse shares they hold.
Why did it happen?
Credit Suisse has been struggling with a series of challenges in recent years, including its association with failed companies such as Greensill Capital and Archegos Capital Management. The collapse of Silicon Valley Bank had further exacerbated the bank’s woes, causing investors to look for signs of contagion. Moreover, the largest shareholder of Credit Suisse, Saudi Arabia Bank, had announced that it would not be adding to its investment...