Over the last weekend, Swiss regulators, the Swiss National Bank, and others have been working to broker a deal between the UBS Group and the troubled banking lender Credit Suisse. On Sunday evening, March 19, the deal finally came to fruition. The UBS Group acquired the ailing competitor in a $3.25 billion deal as part of the emergency ordinance and to prevent financial instability. This is more than a 60% discount from the $8 billion valuations of Credit Suisse just two back on March 17. Speaking on the development, UBS Chairman Colm Kelleher said: “This acquisition is attractive for UBS shareholders but, let us be clear, as far as Credit Suisse is concerned, this is an emergency rescue. We have structured a transaction which will preserve the value left in the business while limiting our downside exposure”. The Swiss central bank stated that this takeover provides a solution to “secure financial stability and protect the Swiss economy in this exceptional situation”. This deal