UBS (UBSG.S) has agreed to buy Credit Suisse after increasing its offer to more than $2 billion, the Financial Times reported on Sunday.

UBS will pay more than 0.50 francs ($0.5401) a share in its own stock, far below Credit Suisseโ€™s closing price of 1.86 francs on Friday, FT reported, citing sources.

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The Swiss National Bank has agreed to offer a $100 billion liquidity line to Credit Suisse as part of the deal, the FT added, citing two people familiar with the matter.

source: Reuters