UBS and troubled Credit Suisse are in negotiations, according to a report


UBS is reportedly in talks to acquire embattled Swiss banking giant Credit Suisse. According to a report from Reuters, UBS has been exploring a potential acquisition for months and has recently made an offer to acquire the bank. UBS is said to be offering Credit Suisse shareholders a stake in the combined company, which would create a financial giant with assets of more than $1 trillion. Credit Suisse has been struggling in the wake of the coronavirus pandemic and has been hit by a series of scandals. The bank has also been facing pressure from Swiss regulators to reduce its risk exposure. UBS is said to be offering a more stable and secure home for Credit Suisse’s clients and shareholders. The potential acquisition is still in early stages and could fall apart.