UBS
Group has offered to buy Credit Suisse Group for up to $1 billion, the Financial Times reported on Sunday.
The report said regulators are rushing to complete a deal for
Credit Suisse
(ticker: CS) before financial markets open on Monday. A merger of Switzerland’s two largest banks comes against a backdrop of industry turmoil. The potential end of the storied bank shows how far and how quickly worries have spread about the financial sector.