UBS: takeover of CS finalized on June 12

UBS announced on Monday that the acquisition of Credit Suisse should be finalized as early as June 12. In addition, according to the Financial Times, UBS plans to postpone the publication of its second quarter results, initially expected on July 25, to a later date not yet communicated, but no later than August 30. This should give the Swiss bank a bit more time to navigate through the details of this transaction and to present an update on its strategy regarding the domestic activities of Credit Suisse. The closing of the transaction is a necessary step to move forward in the process of integrating Credit Suisse, including the development of plans for the retention of key ex-CS personnel, particularly in the investment bank in Asia.