justin sun, founder of Huobi crypto exchange, offered to acquire Credit Suisse AG C for $1.5 billion.
What happened: Sun wrote in a series of tweets on March 19: “I would like to propose my $1.5 billion offer to acquire Credit Suisse and integrate it into the Web 3.0 world. Switzerland is one of the most crypto-friendly countries in the world. There has been one.”
Sun is also its founder and CEO. tron (CRYPTO: TRON), is a blockchain-based digital platform that primarily hosts entertainment applications.
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ubs group UBSHowever, it has agreed to pay 3 billion Swiss francs ($3.25 billion) in stock to acquire Credit Suisse.
credit suisse shareholders It will receive 1 UBS share for every 22.48 Credit Suisse shares, equivalent to a purchase price of 0.76 Swiss francs ($0.82) per share, a discount of about 60% from Credit Suisse’s closing price on Friday.
It remains to be seen whether Credit Suisse and the Swiss government will consider Sun’s offer.
Benzinga did not immediately get a response from Sun or Credit Suisse for comment on the story.
Price Action: At the time of writing, ETH was trading at $1,717, up 3.43% over the past 24 hours. According to Benzinga Pro.
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