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> UBS has offered to buy Credit Suisse for up to $1bn, with Swiss authorities planning to change the country’s laws to bypass a shareholder vote on the transact
by drexlspivey 4y ago
> UBS has offered to buy Credit Suisse for up to $1bn, with Swiss authorities planning to change the country’s laws to bypass a shareholder vote on the transaction as they rush to finalise a deal before Monday.
They don't get to say no
- newaccount2023 4y agoThen CS should force the price to $0 and let their shareholders vent fury on regulators Once again, it makes sense for CS to let this go scorched-earth
- brookst 4y agoWhat’s the upside? CS managers get a reputation for being emotional toddlers who can’t be trusted near anyone’s money ever again? Intentionally producing a worse outcome for your own shareholders in the hopes you can blame someone else just doesn’t seem like a very sane thing to do.
- rrgok 4y agoI don't understand, can the government change the law as they wish any time they wish? The last I heard, Switzerland is a democracy.
- drexlspivey 4y agoWhy would that be undemocratic? That’s how democracy works you elect a government and their job is to make laws.
- emmp 4y agoThe democratic part is that the government was elected to begin with, and if the voters do not like the changes to any laws, they can vote for someone else in the next election. But yes, the point of a democraticly elected government is that they are empowered to make, change, or eliminate laws as they see fit for the duration of their elected term.
- Ekaros 4y agoSwitzerland is quite special case, but in general governments can do just about anything as long as they have support of parliaments.