Chapter 173: Review [II]
Boom, boom, boom.
Everyone's eyes were focused on David at the same time.
"Heh, I don't think there's any need to communicate privately with East West Bank. The East West Bank merger is clearly a threat to U.S. national security......" David insisted after a few seconds of silence.
"Uh...... I didn't say I was against censorship, but I suggested that I have a private conversation with East West Bank before making a decision. Since David insisted, then I don't have any opinion. McVeigh spread his hands and explained, and then said nothing.
Last night.
McVeigh promised to help East West Bank as much as he could, but he was obviously unwilling to have a serious confrontation with others for Tang Bao's sake.
"What about other people's opinions?"
Seeing that the atmosphere in the conference room was silent, Treasury Minister Baker asked politely. Although David's reduction of holdings has made the investigation into the East West Bank merger case a certainty, out of politeness and respect, he still symbolically consulted the opinions of others at SIN International Bank
"Wait a minute, I think it's important to review not only East West Bank's acquisition of SIN International Bank, but also a series of previous East West Bank acquisitions." David interrupted Secretary Baker's speech very forcefully and offered his own proposal.
Call.
Minister Baker was very angry at this, but he couldn't vent it, so he could only take a deep breath. Forcibly suppress the anger in your heart.
……
Baker stared at David with a disapproving face, while David smiled at each other without showing weakness.
Suddenly.
Sparks of friction flickered in the room.
on this. Everyone looked down and pretended to look at the documents, played with the pen in their hands, or gloated about the play.
It's not a big secret that Baker and David don't get along. There are even those who say that Baker may resign in the near future, and that David is the best candidate for secretary of the Treasury.
Call......
With a long exhale, Minister Baker looked around at everyone again and asked with a smile on his face, "Everyone." What do you think of David's proposal? ”
The voice fell.
Everyone remained silent, and no one was in a hurry to stand up and take a stand. Although Baker, who is theoretically the Treasury secretary, is the leader of the Committee on Foreign Investment.
However, it is clear that everyone does not have much respect for him.
"I agree with David's proposal, an acquisition by East West Bank. All must be strictly investigated. At the same time, we, the Department of Justice, have also made a decision to launch an independent investigation into East West Bank. "Justice Minister Plath broke the awkward atmosphere and gave a clear response.
"I also agree to investigate ......"
"I don't think there's any need to mobilize people, just investigate the merger and acquisition case of SIN International Bank, investigate them all, we don't have that much time!"
"I agree to a full investigation!"
"I object, ladies and gentlemen, that the U.S. banking system is indeed in crisis......"
"Abstain!"
"Agreed."
"Against ......"
……
Soon.
The members of the Committee on Foreign Investment (CFIUS) expressed their respective attitudes. Of the fifteen members, 11 agreed to investigate the East West Bank takeover, with two opposing and two abstaining.
But.
Conduct a thorough investigation. The Commissioners were very divided. East West Bank has acquired many small banks, and if they all carry out detailed reviews, the 30-day review time is simply not enough. In addition, as the investigation lengthens, the scale increases. There is also a lot of pressure on human and financial resources. The newly established Committee on Foreign Investment in Japan. Not rich in terms of budget.
Helpless.
After a heated debate, all sides backed down and reached a compromise. In addition to reviewing SIN International Bank's M&A transactions, CFIUS will select a selection of other East West Bank M&A transactions for rigorous scrutiny.
……
"Hey!"
Nick answered the phone, and then handed it to Tang Baodao, "Boss, the phone number of the Committee on Foreign Investment!" ”
"Hi Don, my Baker."
"Hello, Minister Baker. Excuse me, is there a result of East West Bank's merger and acquisition filing? Tang Bao greeted politely, and then asked.
"Yes, that's what I told you about. The Committee on Foreign Investment in Japan (CFIUS) will review the merger of East West Bank, and a formal notification of documentation has been sent to all parties involved. ”
"Oh."
Although he had been prepared for a long time, Tang Bao was still a little disappointed after listening to Baker's words. The Committee on Foreign Investment (CFIUS) has been examined for a month and an investigation of 45 days, and he fears that something will happen......
"Tang, in addition, this review is not only for the merger and acquisition of SIN International Bank, but also for some other transactions of East American."
"Hmm. I know. Thank you, Minister Baker. ”
Soon.
The Committee on Foreign Investment in China West Bank (CFIUS) announced that it has decided to review East West Bank's acquisition of SIN International Bank.
As soon as the news came out.
There are mixed news and worries in the outside world, especially in Japan, Britain and other companies with large investments in the United States, which are extremely concerned about the news of the review of the acquisition of East West Bank. Because they have a very small number of M&A transactions in the United States, they are worried that they will encounter similar problems.
Those who have called for a boycott of East West Bank and a government to limit its expansion have rejoiced and applauded.
Anyway.
For the first time since its establishment, the Committee on Foreign Investment in China (CFIUS) has shown its sword, and the response has been huge.
……
East West Bank's merger and acquisition has officially entered the review period.
At the request of CFIUS, both East West Bank and SIN International Bank submitted a thick stack of materials.
Thereinto.
The shareholders of SIN International Bank are also very anxious. In particular, a note was provided requesting CFIUS to conclude its review as soon as possible, as their financial problems were serious. Without a timely bailout from East West Bank, it could collapse at any time.
"Don, I learned from McVeigh that the review period for the East West Bank merger deal will be transferred directly to the investigation period until the outcome of the investigation is handed over to President Reagan. This process lasts for three months, during which there is no room for manoeuvre. Lady Annette said.
"Hmm."
Tang Bao hummed helplessly. That night, McVeigh made it so clear that he naturally had a bottom in his heart about the matter.
As a result of McVeigh's presentation, he was also aware of CFIUS's entire review process. It includes the declaration stage, the review stage, the investigation stage, and the presidential decision stage.
Tang, the procedure at the review stage is the most flexible, and the CFIUS will be the main reference for making decisions based on various materials and the explanations of the parties involved in the acquisition. I suggest that you interview each member on a case-by-case basis during the 30 days of the review period. Or do something that would help reassure CFIUS......" Lady Annette advised.
Well.
Tang Bao also has this intention.
In fact, he was already planning to meet four key figures: David, Plath, Leguent, and McFarlane.
……
Do what you think.
Soon.
Tang Bao met with the four of them separately, and the four of them were tepid towards Tang Bao and had no obvious hostility. But there is no intention of intimacy.
It's all a business-like attitude.
This kind of important matter cannot be negotiated in a few words, and Tang Bao did not expect to achieve results from the first meeting. In the following time, Tang Bao met with several people many times.
this day.
Tang Bao met with David again.
"Huh......?"
Tang Bao's brows couldn't help frowning slightly, today, David still seemed to have a very ordinary expression, but he could feel a look of annoyance in the other party's eyes. It's just a flash, but it's definitely not a good sign.
"Don. As I said, East West Bank's expansion has covered almost every state in the United States, which has seriously affected the security of the financial system in the United States. David repeated his words.
"Well, Mr. David, may I ask you any company you have seen that does not want to expand, and you can't say that it threatens the national security of the United States just because East West Bank is expanding very fast. This is very unreasonable and untenable. Tang Bao smiled lightly and stated his thoughts.
"Untenable? Hey, look at what East West Bank has done before, there has been a run on the bank, and it almost caused a riot...... Hasn't it compromised on security yet? ”
"It was an accident, and besides, East West Bank and the Federal Deposit Insurance Corporation of the United States have signed a cooperation agreement, and the matter is perfectly resolved."
Hear the words.
David shook his head, "Either way, I'm not satisfied with your explanation, SIN International Bank shouldn't be swallowed up by a company with a track record like yours, that would have disastrous consequences." ”
"Then who do you think is the most suitable for SIN International Bank to be annexed?"
"I think ......" David's words, just halfway through speaking, he changed his words: "That shouldn't be a problem for me to consider, I just know that I shouldn't be acquired by East West Bank!" ”
Then.
David hurriedly threw down the phrase "I have something to do" and couldn't wait to get up and leave.
Hey.
Tang Bao sneered, just now he just inadvertently tested it, and immediately understood that David's strong opposition was not as high-sounding as he said.
……
Fortunately.
In the Department of Justice's Plath and the Department of Homeland Security's Legerent, Tang Bao's breakthrough progress can be regarded as a surprise.
Ultimately.
Legent agreed with Tang Bao's suggestion that they be responsible for erasing the account transaction information related to the Department of Homeland Security at SIN International Bank.
Then.
Tang Bao registered the relocation of Huamei Holding Group to the United States, and Plath was able to clearly find out the equity situation, which finally dispelled the suspicion that Huamei Bank was controlled by the Chinese government.
……
Meantime.
Both Winnieburger and Feitner went to CFIUS to explain the deal and engaged in active lobbying work.
After more than 20 days of hard work.
In the end, the hard work paid off and a breakthrough was made...... It can even be said that the unexpected progress. Tang Bao, who got the news, was also pleasantly surprised! (To be continued) R655