Thursday, 23 March 2023

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BlackRock denies bid for Credit Suisse after Financial Times report – TipRanks Financial Blog

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BlackRock (BLK) has assembled a rival bid for Credit Suisse (CS) that would trump a plan blessed by the Swiss central bank for UBS (UBS) to acquire the bank, Stephen Morris, James Fontanella-Khan, Arash Massoudi and Owen Walker of Financial Times report, citing four people with knowledge of the matter. BlackRock evaluated a number of options and talked to other potential investors, which included bids for only portions of the business, sources told the FT. However, BlackRock on Saturday said it :is not participating in any plans to acquire all or any part of Credit Suisse, and has no interest in doing so.” Larry Fink, co-founder and CEO of BlackRock, is driving the bid, people with knowledge of the matter told the FT. Reference Link

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