Assess whether integration costs were sandbagged in the CIM (575df4)

Situation

The desk packet is regulatory-approval critical-path calendar after an HSR second-request rumor. Integration-risk PMO in a roll-up of three regional service companies has to name Proceed or Reprice for this M&A Due Diligence Legal, IP, and Regulatory file.

Decision

Integration-risk PMO in a roll-up of three regional service companies must choose Proceed / Reprice / Walk / Hold using regulatory-approval critical-path calendar after an HSR second-request rumor.

Hypotheses to test

• Authorize Proceed now; regulatory-approval critical-path calendar already has the discriminator after an HSR second-request rumor.
• Keep Reprice in force until regulatory-approval critical-path calendar is completed after an HSR second-request rumor for integration-risk PMO.
• Treat regulatory-approval critical-path calendar as Walk because both readings appear after an HSR second-request rumor.
• Refuse a M&A Due Diligence close: integration-risk PMO does not have the page integration costs were sandbagged turns on in regulatory-approval critical-path calendar.

Analysis required

• Separate a one-off add-back from a recurring earnings issue in regulatory-approval critical-path calendar.
• Map reps, earnout mechanics, and integration risk a roll-up of three regional service companies would inherit.
• Tie quality-of-earnings, working-capital, and contingent items in regulatory-approval critical-path calendar to integration costs were sandbagged.
• For this M&A Due Diligence Legal, IP, and Regulatory file, read regulatory-approval critical-path calendar against an HSR second-request rumor and write the one fact that would move integration costs were sandbagged for integration-risk PMO.

Recommendation

Choose Proceed / Reprice / Walk / Hold on this M&A Due Diligence / Legal, IP, and Regulatory packet (regulatory-approval critical-path calendar after an HSR second-request rumor). Lead with the M&A Due Diligence option regulatory-approval critical-path calendar can support after an HSR second-request rumor, then the two facts that force it, then the Monday action for integration-risk PMO in a roll-up of three regional service companies.