4 ms·
> the bank will have a new owner by coming Monday/Tuesday What due diligence can seriously be carried out by Monday/Tuesday? Especially for a messy "acquisiti
by paganel 4y ago
> the bank will have a new owner by coming Monday/Tuesday
What due diligence can seriously be carried out by Monday/Tuesday? Especially for a messy "acquisition" like this one.
- dmix 4y agoIt actually happens all the time with FDIC takeover banks. They run a bidding process so the buyers are pressured to act, you can be sure they are already preparing everything to do this ASAP. They understand timing is really important to rescue these banks, they need to get stability ASAP or tons of value gets destroyed. Potential buyers know this too.