UBS Acquires Credit Suisse for $3.25 Billion

UBS has acquired Credit Suisse for $3.25 billion in an emergency rescue deal to hedge against financial market volatility. Suisse officials changed the rules to bypass a shareholder vote and complete the transaction over the weekend. 

The acquisition protects the remaining value of the business while limiting UBS' potential losses. The Swiss National Bank is committed to over $100 billion in liquidity.