The post State Street Denies Credit Suisse Takeover appeared first on theprimarymarket.com.
]]>“State Street is not pursuing an acquisition of, or any other business combination with, Credit Suisse,” said the statement.
The news about a potential Credit Suisse takeover first surfaced on Inside Paradeplatz. The website claimed that State Street is ready to offer CHF9 ($9.05) per share at a premium of more than 30 percent. This would place the total value of CHF23 billion ($23.13 billion) on Credit Suisse.
Initially, both State Street and Credit Suisse denied making comments on the reports. In the aftermath, Credit Suisse stock has seen a rare spike of around 3.8 percent in Switzerland. On the other hand, State Street stock dipped around 5 percent in the United States.
Even though State Street is not pursuing a deal for Credit Suisse, that doesn’t mean some other suitor won’t come along soon. There seems to be an interest among shareholders in finding a new owner, although any potential deal would depend on the price.
“For the right buyer [or] price, we would be supportive,” said David Herro of Harris Associates; one of the top three shareholders in Credit Suisse.
The post State Street Denies Credit Suisse Takeover appeared first on theprimarymarket.com.
]]>The post State Street Denies Credit Suisse Takeover appeared first on theprimarymarket.com.
]]>“State Street is not pursuing an acquisition of, or any other business combination with, Credit Suisse,” said the statement.
The news about a potential Credit Suisse takeover first surfaced on Inside Paradeplatz. The website claimed that State Street is ready to offer CHF9 ($9.05) per share at a premium of more than 30 percent. This would place the total value of CHF23 billion ($23.13 billion) on Credit Suisse.
Initially, both State Street and Credit Suisse denied making comments on the reports. In the aftermath, Credit Suisse stock has seen a rare spike of around 3.8 percent in Switzerland. On the other hand, State Street stock dipped around 5 percent in the United States.
Even though State Street is not pursuing a deal for Credit Suisse, that doesn’t mean some other suitor won’t come along soon. There seems to be an interest among shareholders in finding a new owner, although any potential deal would depend on the price.
“For the right buyer [or] price, we would be supportive,” said David Herro of Harris Associates; one of the top three shareholders in Credit Suisse.
The post State Street Denies Credit Suisse Takeover appeared first on theprimarymarket.com.
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