Last month, Swiss private wealth manager Sarasin, a subsidy of Rabobank Groep, issued a statement saying that it was open to a buy-out option following news of a possible bid by Swiss private bank Julius Baer.
The Swiss private bank had even raised the bid offer for stakes in Sarasin from a mixed offer to an all cash offer. This change seemed to have been triggered by strong interests expressed by Raiffeisen, a Swiss cooperative lender.
Go deeper with GlobalData
At the time, it was reported that Sarasin’s senior executives were more in favour of Raiffeisen’s offer, as they feared major job losses under Julius Baer, who is a direct competitor.
