UBS agrees to buy Credit Suisse for more than $2 billion: Report

UBS had earlier tabled an offer of about $1 billion, or 0.25 francs a share for Credit Suisse, which the firm had pushed back on, people with knowledge of the matter said earlier on Sunday

UBS Group AG agreed to buy Credit Suisse Group AG in a historic, government-brokered deal aimed at containing a crisis of confidence that threatened to spread across global financial markets. 

The Swiss bank is paying more than $2 billion for its rival, according to people with knowledge of the matter. It will be an all share deal and priced at a fraction of Credit Suisse’s close on Friday, when the bank was valued at about 7.4 billion francs ($8 billion.) The people asked not to be identified because the deal isn’t public yet.

The Swiss National Bank has agreed to