<story><title>UBS offers to buy Credit Suisse for up to $1B</title><url>https://www.ft.com/content/ec4be743-052a-4381-a923-c2fbd7ea9cfd</url></story><parent_chain><item><author>helsinkiandrew</author><text>&amp;gt; The offer was communicated on Sunday morning with a price of SFr0.25 a share to be paid in UBS stock, far below Credit Suisse’s closing price of SFr1.86 on Friday, the people said&lt;p&gt;1&amp;#x2F;7 of the Friday closing price - this is heading into the Matt Levine &amp;quot;we will buy your bank, make sure that all your customers are made whole, and give you a Snickers bar in exchange for 100% of the equity&amp;quot; territory</text></item></parent_chain><comment><author>OscarTheGrinch</author><text>&amp;quot;Credit Suisse has spent the last decade finding astonishing new ways to lose money and embarrass itself (...) It&amp;#x27;s failings have included a criminal conviction for allowing drug dealers to launder money in Bulgaria, entanglement in a Mozambique corruption case, a spying scandal involving a former employee and an executive and a massive leak of client data to the media, (...) not to mention its losses on the Archegos and Greensill scandals.&amp;quot;&lt;p&gt;Matt Levine is a treasure.</text></comment>
<story><title>UBS offers to buy Credit Suisse for up to $1B</title><url>https://www.ft.com/content/ec4be743-052a-4381-a923-c2fbd7ea9cfd</url></story><parent_chain><item><author>helsinkiandrew</author><text>&amp;gt; The offer was communicated on Sunday morning with a price of SFr0.25 a share to be paid in UBS stock, far below Credit Suisse’s closing price of SFr1.86 on Friday, the people said&lt;p&gt;1&amp;#x2F;7 of the Friday closing price - this is heading into the Matt Levine &amp;quot;we will buy your bank, make sure that all your customers are made whole, and give you a Snickers bar in exchange for 100% of the equity&amp;quot; territory</text></item></parent_chain><comment><author>HWR_14</author><text>In the US the government can step in and force you to take that offer. Specifically, they can tell you if you don&amp;#x27;t accept it the FDIC can take over your bank and auction it off for maybe the snickers bar.&lt;p&gt;Is there such a mechanism in Switzerland? Because at &amp;quot;a snickers bar&amp;quot;, a lot of people wouldn&amp;#x27;t sell out even though it&amp;#x27;s better for all their depositors. They may be tempted to roll the dice and hope for a giant win. After all, they get way more upside and it&amp;#x27;s not their money (primarily) they are risking</text></comment>