via reuters:
HONG KONG, May 17 (Reuters) – UBS Group AG (UBSG.S) was rushed into buying cross-town rival Credit Suisse Group AG (CSGN.S) in a deal it did not want, as a global bank crisis worsened the latter’s finances and prompted authorities to take swift action, a regulatory filing showed.
UBS, in a Tuesday filing to the U.S. Securities and Exchange Commission, told investors it had less than four days to conduct due diligence given the “emergency circumstances”.
h/t BoatSurfer600
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