![]() investors are seen likely to favor ashare-for-share exchange, which is not taxable as a cash offerwould be. Under the transaction, PaineWebber shareholders can accepteither 0.4954 UBS shares per PaineWebber share or $73.50 incash, but UBS said it would ultimately pay half in cash, half inshares for the U.S. in 1998, manages more than $1 trillion in clientassets and employs 49,000 people around the world. UBS, created from the merger of Union Bank of Switzerland andSwiss Bank Corp. Together,they control about 30 percent of PaineWebber’s shares. andYasuda Mutual Life, have agreed to vote for the deal. Marron, chairman and chief executive of PaineWebber,had long resisted selling the company, but said in a statement today: “This is the right merger, with the right partner, atthe right time.” PaineWebber’s two largest shareholders, General Electric Co. The companies hope to complete the deal in November, pendingshareholder and regulatory approval.ĭonald B. The proposed deal extends the recent global consolidation that isreshaping the banking, insurance and securities industries. in a cash and stock deal valuing the U.S.broker at $10.8 billion. Z U R I C H, July 12 - Ina move that would give Switzerland’s biggest bank access tomillions of wealthy American investors, UBS AG said it will buyPaineWebber Group Inc. in 1998, manages more than $1 trillion in client UBS, created from the merger of Union Bank of Switzerland and They control about 30 percent of PaineWebber’ s shares. Yasuda Mutual Life, have agreed to vote for the deal. PaineWebber’ s two largest shareholders, General Electric Co. Had long resisted selling the company, but said in a statement today: “ This is the right merger, with the right partner, at Marron, chairman and chief executive of PaineWebber, Shareholder and regulatory approval.Donald B. The companies hope to complete the deal in November, pending Reshaping the banking, insurance and securities industries. The proposed deal extends the recent global consolidation that is in a cash and stock deal valuing the U.S. Millions of wealthy American investors, UBS AG said it will buy For more information on a particular rating, please visit ubs.com/us/en/designation-disclosures.A move that would give Switzerland’ s biggest bank access to Past performance is no guarantee of future results. nor its employees pay a fee in exchange for these ratings. ![]() Accolades can be based on a variety of criteria including assets under management, revenue, compliance record, length of service, client satisfaction, type of clientele and more. Important Information About Auction Rate Securities.Īccolades are independently determined and awarded by their respective publications. Statement of Financial Condition- UBS FSI of Puerto Rico. Wealth management services in the United States are provided by UBS Financial Services Inc., a registered broker-dealer offering securities, trading, brokerage and related products and services. The featured person is not implying sponsorship or endorsement of UBS or its products and services. In lieu of payment, a donation was made to Simon Kidston’s charity of choice. Simon Kidston: Classic car collector and broker. In lieu of payment, a donation was made to Michael Spence’s charity of choice. Michael Spence: Nobel Laureate in Economic Sciences. Icicle Group, Studio SV and HK Design Centre are not affiliated with UBS Financial Services Inc. ![]() The featured person/business is not implying sponsorship or endorsement of UBS or its products and services. In lieu of payment, a donation was made to Bonnie Chan-Woo’s charity of choice. īonnie Woo-Chan: CEO at Icicle Group & Co-Founder of Studio SV, Vice-Chair of HK Design Centre. Please consult the sales restrictions relating to the service in question for further information. Products and services mentioned on these web pages may not be available for residents of certain nations. ![]()
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