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Starting point (without any deep details):
Public company N (Government of the country F owns 35+% of it) wants to buy company U and have reached about 70% share of it. Company U exists under laws of country G. Takeover of the company U was challenging because of the local management and they fought against the M&A operation. Company U is having a big country risk in country R. Country R started a military attack to country Ukr. This means shit hit the fan. In a big way.

Companies N and U operates in energy sector which means that they are in a critical position in their locations.

The Game
Company U is in a critical situation due to the business links to country R. Making serious losses and country G is planning to do a takeover to secure the company. Now the government of country F is concerned how big invoice will come from country G to tax payers of country F.

WTF. Public company N buys a company U which is taken over. How there can be any penalties for the tax payers in country F? In market economy the suffering party should be company N and its owners (stock price and smaller if any dividends). After that the owners should think about the management of the company F, are they good enough? They made a risky investment and owners approved and risk realised. What is the balance sheet of the management trust.

If the company is a public company although it is operating in critical area for the security of the exceptional conditions it should operate as a public company. If the management screws up, tax payers shouldn’t pay the bill. If that is the required, should it be a public company? No. I can’t see why it should be so that the wins are for the owners and losses are for the tax payers.
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