UBS makes $1 billion offer to acquire Credit Suisse.

UBS has reportedly offered to buy Credit Suisse for up to $1 billion, valuing the embattled rival at around $7 billion less than its market value at Friday's close. The deal could be signed as early as Sunday evening, according to sources. Credit Suisse has been battling a string of losses and scandals, and last week sentiment was rocked again with the collapse of Silicon Valley Bank and the shuttering of Signature Bank in the U.S.