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> Then you typically have until late sunday to put the bid in so they can resolve the bank before market opens on Monday. nobody is going to pay 100% for them,
by MuffinFlavored 4y ago
> Then you typically have until late sunday to put the bid in so they can resolve the bank before market opens on Monday.
nobody is going to pay 100% for them, right?
so it's basically who will pay the most between 50-95% for them?
why wouldn't somebody want assets 5% off (full 95% bid?)
- adastra22 4y agoIf you're a competing bank in that sector (like First Republic, for example), why wouldn't you pay full price for the good will and customer list? Even if you end up having to (potentially) pay 5% of the assets over time, that's a small price to pay to take over the entire market of startup customers overnight.