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Fortune
Fortune
Eleanor Pringle

Shareholders won in UBS's Credit Suisse takeover -but this investment manager lost $340m

Emmanuel Roman, CEO at PIMCO (Credit: Lauren Justice—Bloomberg/Getty Images)

In the pecking order of who gets paid first when a bank collapses, shareholders don't usually sit very high up the chain.

But in an unusual turn of events, those who held shares in Credit Suisse have actually got a payout—in the billions—ahead of those who held bonds in the bank.

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