The UBS- Credit Suisse (CS) merger in March 2023, one of the biggest banking unions in history, was an emergency rescue … deal engineered by Swiss authorities to avoid more market-shaking turmoil in global banking. The merger resulted in a … around the merger announcement through abnormal returns to UBS stockholders (7.95%) and CS bondholders (34.74%), equivalent …

Regretful merger arbitrageurs may rush to sell target stocks for ongoing mergers and acquisitions when they expect a …

systemic risk. In this paper, we investigate whether banks exploit safety net subsidies by engaging in merger and acquisition …. Using information on bank M&As between 1997 and 2008 for a sample of nine EU economies, we find that banks pay higher merger … premiums in larger M&As. Moreover, merger premiums paid in the past are positively associated with higher possibility of …