UBS overplayed its hand with the $1B offer. No way CS shareholders would accept that. CS has some leverage after all - if this is not resolved, its mayhem for the financial sector this week. Appears Swiss gvt may cut the middleman and take a controlling interest in CS, and hopefully pursue a merger with UBS or someone else in much calmer waters.
| +145 | The "Not So Obvious" things that get you a return offer? | 18 | 1h | |
| +76 | Is my life over after not getting GS? | 18 | 2h | |
| +56 | Best IB group on the Street | 22 | 1h | |
| +52 | BIG FOUR ARE PARADISE | 13 | 6h | |
| +45 | Thoughts and tips on how to speak like an investment banker. | 23 | 2h | |
| +40 | Tell me one good reason why Jefferies isn’t going to be a top bank in the next 5 years | 20 | 16h | |
| +36 | UBS Outlook | 28 | 17h | |
| +35 | Georgetown Placement for 2024 and 2025 | 21 | 6d | |
| +31 | Highest Paid Bankers in Toronto? | 50 | 1d | |
| +30 | How to deal with egotistical team? | 6 | 2d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Do we know if UBS offer included CS’s investment banking arm?
No we don't. Although it would be fair to assume it did, which would justify the low valuation seeing the IB has taken most of the hammering in terms of bleeding cash. Valuing the Swiss Bank, AM and WM only would have likely yielded a higher valuation which runs counter to offering a low price.
Supposedly a 100% takeover so yes.
i think they'll keep the IBD for a while and once markets/deal flow normalizes, sell it for a premium
Agreed. Nationalizing is a much better option. Buys them time to restructure and spin off CSFB
Idk if spin would still happen in nationalization case; I’d think govt would want to wind down business in a controlled fashion
Sunt natus laborum repudiandae repudiandae. Facere illo voluptatibus aliquam aut sapiente. Culpa praesentium repellat placeat iste sit omnis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...