A customer walks towards an automated teller machine (ATM) inside a Credit Suisse Group AG bank branch in Geneva, Switzerland, on Thursday, Sept. 1, 2022. Jose Cendon | Bloomberg | Getty ImagesSwiss banking giant UBS on Sunday offered to buy its embattled rival Credit Suisse for up to $1 billion, according to the Financial Times, citing four people with direct knowledge of the situation.The deal, which the FT said could be signed as early as Sunday evening, values Credit Suisse at around $7 billion less than its market value at Friday’s close.   related investing news The FT said UBS had offered a price of 0.25 Swiss francs ($0.27) a share to be paid in UBS stock. Credit Suisse shares ended Friday at 1.86 Swiss francs. The fast-moving nature of the negotiations means the terms of any end deal could be different from those reported.Credit Suisse is reportedly balking at the offer, however, arguing it is too low and would hurt shareholders and employees, people with knowledge of the matter told Bloomberg.Credit Suisse and UBS declined to comment on the reports when contacted by CNBC.Swiss authorities are also reportedly considering full or partial nationalization of the bank as an alternative to the UBS takeover, according to a Sunday Bloomberg report.The UBS deal is being orchestrated quickly, so the Swiss are preparing for the case that it falls through, Bloomberg said, citing people with knowledge of the matter. The country is reportedly considering whether it would take over the bank completely or hold a significant equity stake.The UBS offer comes after Credit Suisse shares logged their worst weekly decline since the onset of the coronavirus …
