UBS, Wealthfront Cancel $1.4B Deal

Re:UBS, Wealthfront Cancel $1.4B Deal by htrp on Friday September 02, 2022 @09:40PM (#32697725)

UBS walking away from an overpay on the acquisition price.

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Re:UBS, Wealthfront Cancel $1.4B Deal by dsimmons on Friday September 02, 2022 @09:59PM (#32697848)

I was kind of wondering about this myself!

Although they're putting a "positive" spin on it, surely this can't be good (for at least one party)?

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Re:UBS, Wealthfront Cancel $1.4B Deal by kibibyte on Saturday September 03, 2022 @01:47AM (#32699112)

Considering this press release came out on a Friday afternoon shortly before the Labor Day weekend, I sensed this wasn't supposed to be good news.

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Re:UBS, Wealthfront Cancel $1.4B Deal by hotpotamus on Saturday September 03, 2022 @09:45AM (#32701829)

That's the heuristic I'm applying too and I've got a substantial amount of money in Wealthfront that I'm now debating what to do with.

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Re:UBS, Wealthfront Cancel $1.4B Deal by MrMan on Friday September 02, 2022 @10:07PM (#32697903)

maybe people are realizing they can also write javascript

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Re:UBS, Wealthfront Cancel $1.4B Deal by benjaminwootton on Saturday September 03, 2022 @02:08AM (#32699217)

I imagine $1.4 billion is a rounding error on a rounding error to UBS.

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Re:UBS, Wealthfront Cancel $1.4B Deal by boyka on Saturday September 03, 2022 @02:52AM (#32699415)

It's rather ca 100% of their average yearly earnings or 3% of their current market cap/6-10% of their market cap a few years ago.

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Re:UBS, Wealthfront Cancel $1.4B Deal by sealeck on Saturday September 03, 2022 @06:04AM (#32700353)

UBS 2021 net income was US$ 7.6 billion and they have $1.12 trillion in assets under management.

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Re:UBS, Wealthfront Cancel $1.4B Deal by rco8786 on Saturday September 03, 2022 @07:10AM (#32700680)

Their AUM is not really relevant. That’s not their money.

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Re:UBS, Wealthfront Cancel $1.4B Deal by lotsofpulp on Saturday September 03, 2022 @07:49AM (#32700920)

$1.4B is a rounding error to big tech companies or a big bank like Chase or BoA.

For UBS, it is a decent percent of their profit.

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