Credit Suisse turned down takeover bids one year before collapse

The management of Credit Suisse turned down takeover bids about a year before the bank collapsed. The bids were for the investment side of the bank, claims one of the people involved, American investment banker Bob Diamond, in the Sonntagszeitung. + Get the most important news from Switzerland in your inbox Diamond met Axel Lehmann, then chair of the Credit Suisse board of directors, in May 2022 at the bank's head office. The proposal was to take over the entire investment banking business of Credit Suisse for around $5 billion (CHF4.4 billion). This segment, plagued by several scandals, would thus have been detached from the rest of the bank. Credit Suisse would have retained a 25% stake, and the new owners would have provided clients with financial products. Another meeting took place in the summer, followed by another one in September 2022. + Credit Suisse collapse: lingering questions one year on In the end, Credit Suisse's response was negative. The reason given was that the ...