Explained: Why Credit Suisse share price is in a tailspin despite historic rescue deal
As per the deal between UBS and Credit Suisse, the shareholders of Credit Suisse will get one UBS share for every 22.48 shares of common stock. Early on Monday, the last-minute rescue failed to soothe people down, and bank stock prices were heavily pressured all morning. UBS fell 12 per cent in early trade, outperforming its remaining regional counterparts in losses.
On Monday, The UBS stock closed 1.26 per cent higher at 17.32 Swiss francs apiece, while the shares of Credit Suisse nosedived 55.74 per cent to 0.82 Swiss franc apiece. Source: Reuters