I'm admittedly not familiar with Argentine corporate law, but would be curious to know if there's a DGCL 109 equivalent in Argentina and the YPF Board could have just amended the Bylaws to eliminate the tender offer requirement. Bylaws aren't static, immutable documents. You would think to avoid bad PR, Argentina could have engaged in a Bylaw amendment struggle rather than saying "to hell with it" and going with the "take backsies" power route / ignoring the Bylaws.
That said, I'm guessing the YPF Board was actually independent and not infiltrated by Argentine loyalists, and that's why this wouldn't have helped in any case.
P.S. Impressive that you managed to work in another dig against Elon in par 3 despite moving to a new topic. Well played...
Great work! Congratulations and thank you.
I'm admittedly not familiar with Argentine corporate law, but would be curious to know if there's a DGCL 109 equivalent in Argentina and the YPF Board could have just amended the Bylaws to eliminate the tender offer requirement. Bylaws aren't static, immutable documents. You would think to avoid bad PR, Argentina could have engaged in a Bylaw amendment struggle rather than saying "to hell with it" and going with the "take backsies" power route / ignoring the Bylaws.
That said, I'm guessing the YPF Board was actually independent and not infiltrated by Argentine loyalists, and that's why this wouldn't have helped in any case.
P.S. Impressive that you managed to work in another dig against Elon in par 3 despite moving to a new topic. Well played...