(Reuters Breakingviews) - The coronavirus is making dealmakers a little queasy. ...
A customer enters the E*Trade offices in New York November 12, 2007. E*Trade Financial Corp told customers on Monday it can absorb a write-down of as much as $1 billion and is well capitalized, after an analyst said credit woes put the online brokerage at risk of bankruptcy, sending its shares down a whopping 58 percent. REUTERS/Lucas Jackson
An epidemic that hits sales and supply chains will give buyers pause. Efforts to invoke MACs following the Kobe earthquake in 1995 and the 9/11 attacks were unsuccessful, however. And lawyers have tightened their wording even more since the global financial crisis, when the likes of KKR and Goldman Sachs used them as an escape hatch. Some contracts even rule out infectious diseases as a scapegoat. Morgan Stanley and E*Trade specifically carved out Covid-19, in what may be a first.
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