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State Street, Credit Suisse deal ‘highly unlikely’ say analysts after report of bid sends shares higher

‘We aren’t convinced that State Street would run Credit Suisse better than it is currently being run’

By Paul Clarke

and

David Ricketts
Analysts are unsure if any potential tie-up would make sense
Analysts are unsure if any potential tie-up would make sense Photo: Abbey Wood Studios/Alamy and EThamPhoto/Alamy

State Street has declined to comment on reports that it is set to make a bid for Credit Suisse, but banking analysts have been quick to pull apart the logic of a merger between the two firms.

Swiss finance blog Inside Paradeplatz reported that State Street was set to make an offer for Credit Suisse at a price of CHF9 a share, valuing the Swiss bank at CHF23bn ($23.6bn).

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