Credit Suisse and Michael Klein have ended an agreement for the Swiss bank to acquire boutique investment banking arm The Klein Group, LLC due to its takeover by UBS, according to a brief announcement within Credit Suisse’s first-quarter results on Monday.
But... Credit Suisse and Michael Klein have ended an agreement for the Swiss bank to acquire boutique investment banking arm The Klein Group, LLC due to its takeover by UBS, according to a brief announcement within Credit Suisse’s first-quarter results on Monday. But talks collapsed after Credit Suisse CS CSGN underwent an emergency takeover by Switzerland’s biggest bank UBS UBS UBSG last month. UBS executives reportedly had little interest in following through with the deal, Bloomberg reported in March.