Julius Baer lifts bid for Sarasin

Swiss private bank Julius Baer has raised its bid for unlisted Rabobank's stake in Swiss bank Sarasin and is now making an all cash offer, the SonntagsZeitung reported yesterday. Baer had initially offered to pay in cash and Julius Baer shares for the stake in Sarasin, a bank catering for rich clients. Swiss cooperative lender Raiffeisen is also interested in acquiring a stake in Sarasin.