Credit Suisse takeover to cost UBS billions, faces business restrictions.
UBS estimates a financial hit of about $17 billion from the takeover of Credit Suisse, including $13 billion from fair value adjustments and $4 billion in potential litigation and regulatory costs. However, UBS also estimated it would book a one-off gain of $34.8 billion by buying Credit Suisse for a fraction of its book value. UBS said the estimates were preliminary and the numbers could change materially later on. The bank also said it might book restructuring provisions after that, but offered no numbers.