Credit Suisse and UBS are to merge, following intervention from the Swiss authorities, in a CHF 3 billion deal.
All Credit Suisse shareholders will receive 1 share in UBS for 22.48 shares in Credit Suisse as merger consideration, reflecting a merger consideration of CHF 3 billion for all shares in Credit Suisse.
The combined entity will be led by Ralph Hamers as group chief executive and Colm Kelleher as chairman. Both individuals currently hold these roles at UBS.
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