Assess whether management can run this without the founder (967fdd)

SITUATION A strategic buyer looking at a carve-out from a conglomerate cannot treat a Phase II that found groundwater impact as incidental context on carve-out stranded-cost model. Commercial-diligence partner must close management can run this from that extract under M&A Due Diligence / People and Contracts.

DECISION Commercial-diligence partner in a strategic buyer looking at a carve-out from a conglomerate must choose Proceed / Reprice / Walk / Hold using carve-out stranded-cost model after a Phase II that found groundwater impact.

HYPOTHESES TO TEST 1. A Phase II that found groundwater impact is noise around an already-controlled People and Contracts process in a strategic buyer looking at a carve-out from a conglomerate, given carve-out stranded-cost model. 2. A Phase II that found groundwater impact is the event in carve-out stranded-cost model that forces Proceed for commercial-diligence partner under M&A Due Diligence. 3. Carve-out stranded-cost model shows a one-file miss after a Phase II that found groundwater impact, not a People and Contracts program failure. 4. Carve-out stranded-cost model cannot decide management can run this yet after a Phase II that found groundwater impact; hold is the only M&A Due Diligence close a strategic buyer looking at a carve-out from a conglomerate can defend.

ANALYSIS REQUIRED 1. Name the document commercial-diligence partner still needs before signing. 2. Test whether a Phase II that found groundwater impact is a diligence gap, a price chip, or a walk-away. 3. Separate a one-off add-back from a recurring earnings issue in carve-out stranded-cost model. 4. For this M&A Due Diligence People and Contracts file, read carve-out stranded-cost model against a Phase II that found groundwater impact and write the one fact that would move management can run this for commercial-diligence partner.

RECOMMENDATION Choose Proceed / Reprice / Walk / Hold on this M&A Due Diligence / People and Contracts packet (carve-out stranded-cost model after a Phase II that found groundwater impact). The follow-on People and Contracts action is what commercial-diligence partner does next: implement the option, assign an owner, and log the missing fact.

COMMAND RETURNS - Bottom-line M&A Due Diligence option on management can run this, then the evidence in carve-out stranded-cost model, then the action for commercial-diligence partner - Hypothesis scorecard against carve-out stranded-cost model: supported / rejected / untestable - Named option among Proceed, Reprice, Walk and the fact that kills the others - Owner and next date for commercial-diligence partner in a strategic buyer looking at a carve-out from a conglomerate