WASHINGTON (dpa-AFX) - UBS and Wealthfront have mutually agreed to terminate their merger agreement, initially announced 26 January 2022, under which Wealthfront was to be acquired by UBS Americas in $1.4 billion deal.
UBS will purchase a $69.7 million note convertible into Wealthfront shares.
UBS said it remains committed to its growth plans in the US and will continue the build-out of its digital wealth management offering.
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