Switzerland’s UBS says it could complete Credit Suisse takeover on June 12

BERLIN (AP) — Switzerland’s UBS says it expects to complete its takeover of longtime rival Credit Suisse as early as next week. The two Zurich-based banks are uniting in a 3 billion-franc ($3.3 billion) deal that was arranged hastily in March by the Swiss government and regulators after Credit Suisse’s stock plunged and jittery depositors quickly pulled out their money. The merger was aimed at stemming upheaval in the global financial system after the collapse of two U.S. banks that shook confidence in the sector. UBS said Monday that it expects to complete the acquisition as early as June 12.