Cevian Capital has taken a €1.2bn ($1.4bn) stake in UBS, with the activist investor taking a bet that that the Swiss bank’s takeover of Credit Suisse will lead to a sharp rise in its stock price.
The activist has taken a 1.3% stake in UBS, it said in a statement, placing more pressure on the Swiss bank’s executive team to deliver on the biggest bank takeover since the 2008 financial crisis.