UBS (UBS) has offered to buy Credit Suisse (CS) for around $1B a deal engineered by Swiss regulators, Margot Patrick, Ben Dummett and Dana Cimilluca of Wall Street Journal report, citing people familiar with the matter. One option would involve buying the entirety of Credit Suisse and then spinning off its local Swiss operations into an independent entity, sources told the Journal. Discussions are continuing and the contours of the deal could still change, the paper added.
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