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UBS’s acquisition of Credit Suisse for $3.25 billion in March has been hailed as the “deal of the century” after UBS reported a net profit of $29.2 billion for the second quarter. The exceptional gain was attributed to the difference between the purchase price and Credit Suisse’s book value. However, critics argue that the takeover has created a monopolistic situation and put Switzerland at risk if the new mega-bank faces a crisis. UBS still faces challenges ahead and it remains to be seen whether the deal was truly worth it.
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