Sun.Mar 19, 2023

article thumbnail

ESG Litigation and Regulatory Enforcement Action

Harvard Corporate Governance

Posted by Carolyn Frantz, Alex Talarides, and Mike Delikat, Orrick Herrington & Sutcliffe LLP, on Sunday, March 19, 2023 Editor's Note: Carolyn Frantz is a Senior Counsel, and Alex Talarides and Mike Delikat are Partners at Orrick Herrington & Sutcliffe LLP. This post is based on Orrick memorandum by Ms. Frantz, Mr. Talarides, Mr. Delikat, and James Stengal.

261
261
article thumbnail

It's Official: UBS Confirms Deal To Buy Troubled Peer Credit Suisse For $3.2B In Swiss Central Bank-Brokered Deal

Benzinga

Swiss investment bank UBS Group AG (NYSE: UBS ) and its beleaguered peer Credit Suisse AG (NYSE: CS ) have reached an agreement for the former to acquire the latter in a deal brokered by the Swiss government. What Happened: UBS has agreed to pay 3 billion Swiss fancs ($3.25 billion) in stock to acquire Credit Suisse, the companies confirmed following widespread speculation.

Banking 98
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

BREAKING: UBS To Rescue Stricken Credit Suisse In $3.2B Takeover Deal

Law 360 M&A

Swiss banking giant UBS will buy struggling Credit Suisse for 3 billion Swiss francs ($3.2 billion), the Swiss rivals said Sunday, after the country's authorities intervened to ensure financial stability.

Banking 98
article thumbnail

New York Community Bancorp Unit To Buy Deposits, Certain Assets Of Signature Bank: FDIC

Benzinga

The Federal Deposit Insurance Corporation said a wholly owned subsidiary of New York Community Bancorp, Inc. (NYSE: NYCB ) has entered into a purchase and assumption agreement to buy deposits and certain loan portfolios of Signature Bridge Bank. Last week, the FDIC said it transferred all deposits and substantial assets of Signature Bank (NASDAQ: SBNY ) to Signature Bridge Bank, N.A.

Banking 95
article thumbnail

How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

article thumbnail

Financial Institution Innovation Needed in Silicon Valley

Reynolds Holding

The failure of Silicon Valley Bank to find a buyer opens up the possibility (and the need) for a new kind of bank that is focused on financial stability as well as the traditional banking functions of lending and running payment systems. The distinctive elements would be (1) deposit commitments with a penalty for early withdrawal and (2) mutual stock ownership by depositors that zeros out upon early deposit withdrawal.

Banking 114
article thumbnail

UBS Agrees to Buy Rival Credit Suisse to Shore Up Global Market

NYT M&A

In a deal brokered by the Swiss government, Switzerland’s largest bank will buy its smaller rival for about $3.2 billion.

Banking 98

More Trending

article thumbnail

Credit Suisse: Bank of England won’t object to takeover as UBS considers $1bn bid

The Guardian M&A

Banks race to finish takeover to calm fears of new global financial crisis Millions paid in bonuses to UK SVB staff days after £1 rescue Bank runs, bailouts, rescues: are the ghosts of 2008 rising again? The Bank of England will not object to UBS taking over fellow Swiss lender Credit Suisse as soon as this weekend, according to reports, amid a frantic race to stave off a crisis with echoes of the 2008 global banking crash.

Banking 75
article thumbnail

UBS/Credit Suisse: shotgun wedding aims to forestall contagion

Financial Times M&A

This is a messy, ugly transaction that nobody really wants — but it’s also necessary

98
article thumbnail

Hedge Funds That Bet on Credit Suisse Rescue Face Uneven Results

NYT M&A

Among the funds to bet on the rescue deal were two that specialize in buying the bonds of companies on the brink of bankruptcy.

article thumbnail

Casino boss spins wheel yet again in race to save supermarket empire

Financial Times M&A

Jean-Charles Naouri pursues deal with former franchisee as he races to salvage group

96
article thumbnail

Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

article thumbnail

UBS to Acquire Credit Suisse

Business Wire M&A

ZURICH & BASEL, Switzerland--(BUSINESS WIRE)--Regulatory News: Ad hoc announcement pursuant to Article 53 of the SIX Exchange Regulation Listing Rules UBS (NYSE:UBS) (SWX:UBSN) plans to acquire Credit Suisse. The combination is expected to create a business with more than USD 5 trillion in total invested assets and sustainable value opportunities. It will further strengthen UBS’s position as the leading Swiss-based global wealth manager with more than USD 3.

52
article thumbnail

Most of Signature Bank’s operations to be acquired by US regional lender

Financial Times M&A

New York Community Bank to buy ‘substantially all’ deposits and just over a third of assets, US regulator says

Banking 76
article thumbnail

Shearman & Sterling Discusses Personal Liability in UK of Directors for Climate Strategy

Reynolds Holding

In a potentially precedent-setting case, 11 directors of global energy company Shell Plc (formerly Royal Dutch Shell Plc) [1] are being sued in their personal capacity over the company’s energy transition strategy. The claim, which has been filed in the English High Court, alleges that the strategy is “fundamentally flawed” and puts the global energy company at risk as the world transitions toward net zero, in breach of the directors’ fiduciary duties to the company.

45
article thumbnail

Holders of $17bn of Credit Suisse bonds wiped out under UBS takeover

Financial Times M&A

Value of risky additional tier 1 debt written down to zero in move that is expected to jolt markets

article thumbnail

Mastering Intent Data: Understanding its Importance & Best Practices

Speaker: Joe Apfelbaum, CEO of Ajax Union

In this webinar, Joe Apfelbaum, CEO of Ajax Union and business strategist, will take you through the ABCs of intent data. You'll learn how to effectively use it to drive business results, with practical tips on how to leverage both company and contact intent data to maximize your marketing efforts. Whether you're a seasoned marketer or just getting started, this webinar is a must-attend for anyone looking to stay ahead in the ever-evolving world of digital marketing.

article thumbnail

The Ultimate Guide to Business Valuation Software: Everything You Need to Know

Equilest

Looking for the right business valuation software? Look no further than our comprehensive guide, which covers everything you need to know about this essential tool. From its key features to its many benefits, we'll help you make the most of business valuation software and take your business to the next level Introduction As a business owner or investor, one of the most important aspects of your operations is understanding the value of your business or potential investments.

article thumbnail

Microsoft plans mobile games store to rival Apple and Google

Financial Times M&A

Xbox boss Phil Spencer said new app store could launch as soon as next year

76
article thumbnail

Your Monday Briefing: Putin and Xi to Meet in Moscow

NYT M&A

Also, Donald Trump says his arrest is imminent and UBS agrees to buy Credit Suisse.

article thumbnail

Breaking down the historic rescue of Credit Suisse by UBS

Financial Times M&A

DD explains the extraordinary takeover

95