The acquisition of Credit Suisse Group AG by UBS Group AG may be completed by as early as June 12.
The acquisition was first announced on March 19 when UBS offered to buy Credit Suisse for up to US$1 billion ($1.34 billion).
Upon the completion of the acquisition, UBS will be the only entity left. At the time, Credit Suisse’s shares and American depositary shares (ADS) will be delisted from the SIX Swiss Exchange and the New York Stock Exchange (NYSE) respectively.
If the acquisition is completed before the opening of the US stock market on June 12, the delisting on the NYSE will occur on June 12. If the acquisition is completed after, both Credit Suisse’s shares on the SIX and NYSE will take place on June 13.
Shares in UBS closed 0.42 Swiss francs higher or 2.41% up at 18.08 Swiss francs on June 2. Shares in Credit Suisse closed 0.018 Swiss francs higher or 2.32% up at 0.79 Swiss francs on June 2.
