for $3.2 billion. Swiss regulators played a key role in facilitating the deal in an effort to quell a contagion threatening the banking sector.
Credit Suisse saw its shares tumble last week after its largest investor, the Saudi National Bank, declined to provide additional funding. Despite subsequent measures from Credit Suisse and Swiss regulators to calm investors' fearsshares plunged 25.5% by the end of the week. Under the deal, Credit Suisse shareholders will receive one UBS share for every 22.48 Credit Suisse shares. The combined bank will have $5 trillion of invested assets, according to UBS.CNBC Pro: From Tesla to under-the-radar battery stocks: Wall Street has a playbook for the EV boom
The opportunity in global EVs is massive, with the European market alone set to be worth $300 billion by 2030, according to estimates from Bernstein. While EV automakers may be an obvious play, Wall Street analysts have named a slew of stock picks across a range of sectors as a way to cash in.