Subject: O/t, ubs takes credit Suisse ,
Let's see if America has news before the open? ''Update (1300ET): The Financial Times reports that UBS has agreed to buy Credit Suisse after increasing its offer to more than $2bn, with Swiss authorities poised to change the country's laws to bypass a shareholder vote on the transaction as they rush to finalize a deal before Monday.

The purchase price is a fraction of the $8 billion market cap the company was valued at on Friday's close; it means that UBS will now pay slightly more than CHF0.50 a share in its own stock, up from a bid of SFr0.25 earlier today, but far below Credit Suisse's closing price of CHF1.86 on Friday.''