It
was
one
hell
of
a
weekend
for
bankers
and
lawyers.
In
order
to
prevent
Credit
Suisse
from
joining
the
ranks
of
Silicon
Valley
Bank
and
Signature
Bank,
teams
of
legal
and
financial
advisers
worked
day
and
night
to
broker
a
historic,
government-backed
takeover
of
the
bank
by
its
former
rival,
UBS.
Now
that
Credit
Suisse
has
been
acquired
by
UBS
for
the
fire-sale
price
of
$3.2
billion,
all
of
the
lawyers
that
lined
up
in
droves
to
represent
both
banks
deserve
a
huge
round
of
applause.
According
to
Law.com
International,
Walder
Wyss,
a
Swiss
firm,
served
as
lead
counsel
to
Credit
Suisse,
while
Sullivan
&
Cromwell
and
Cleary
Gottlieb
advised
on
the
capital
markets
and
banking
&
finance
aspects
of
the
transaction.
On
the
other
side
of
the
deal,
UBS
was
counseled
by
a
host
of
Biglaw
firms,
including
Davis
Polk
&
Wardwell,
Swiss
firm
Bar
&
Karrer,
and
Freshfields.
On
top
of
all
those
firms,
sources
say
that
Linklaters,
Latham
&
Watkins,
and
Fried
Frank
were
likely
involved
in
the
deal
as
well.
So,
what
does
this
mean
for
the
merged
banks
going
forward?
In
a
statement,
UBS
Chairman
Colm
Kelleher
commented:
“This
acquisition
is
attractive
for
UBS
shareholders
but,
let
us
be
clear,
as
far
as
Credit
Suisse
is
concerned,
this
is
an
emergency
rescue.
We
have
structured
a
transaction
which
will
preserve
the
value
left
in
the
business
while
limiting
our
downside
exposure.”
Uf
widerluege,
Credit
Suisse.
Congratulations
to
all
of
the
firms
that
helped
to
see
this
deal
through
to
the
end.
Host
of
Firms
Advise
on
Historic
UBS
Takeover
of
Credit
Suisse
[Law.com
International]
Staci
Zaretsky is
a
senior
editor
at
Above
the
Law,
where
she’s
worked
since
2011.
She’d
love
to
hear
from
you,
so
please
feel
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