Superbank said to pay more for takeover: first CS shareholders sue UBS

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The private profit likely to be made by UBS’s acquisition of Credit Suisse is CHF 35 billion. However, the ledger profit may increase even more.

UBS got the CS at an affordable price. Shareholders receive only 3 billion francs – this corresponds to a price of 76 cents per share in the takeover agreement.

Plaintiffs want more money

No wonder the resentment among some investors was so great. This is why many have already filed complaints against, for example, CS or the Financial Market Authority. But now the first CS shareholders have also filed suit against UBS, such as “SonntagsZeitung”. Two lawsuits were filed before the Zurich Commercial Court and the Zurich Magistrate.

Lawyers argue that the exchange rate calculation should at least be based on the last market value of the shares before the merger was announced – and at that time this value was two and a half times higher, at CHF 1.86. Accordingly, shareholders will have to be compensated by UBS at least 7.3 billion francs.

Also, in the case of a merger, a premium is usually payable based on market value. This means that the takeover price must increase even more.

The tide of lament is accelerating

This further increases the flow of lawsuits filed in connection with the CS takeover. Responsible judges have their hands full. Currently only St. There are numerous complaints pending at the Federal Administrative Court in St. Gallen. (Russian)

Source :Blick