Steve HermanUBS taking over Credit Suisse. #banking #Switzerland
liljenstolpe@w7voa The interesting color here is that the deal is $0.50USD/share (vs. $2.01/share at the close), and the Swiss authorities are "changing the rules" to allow it to go through with just board approval vs. a full shareholder vote (shareholders will be wiped out) in order to get it announced by Sunday night. What bomb was waiting on Monday?
adac127@liljenstolpe Guess they wanted to seal the deal before asia stock exchanges open in a few hours as they expected a bank run. And CS had alleeady lost a lot of customers there….