UBS expects to complete its takeover of Credit Suisse 'as early as June 12', which will create a giant Swiss bank with a balance sheet of $1.6 trillion.
Under the all-share takeover, Credit Suisse shareholders will receive one UBS share for every 22.48 shares they held.
UBS had been rushing to close the transaction in record time, hoping to provide greater certainty for Credit Suisse clients and employees, and to stave off departures. Switzerland's biggest lender is considering delaying its quarterly results until the end of August as it deals with complexities arising from the takeover, the Financial Times reported on Sunday.A question mark remains over what UBS will do with the Swiss retail bank of Credit Suisse, long seen as the group's "crown jewel."
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