Assess whether a top customer is actually sticky after add-backs that are

Situation

Earnings and Revenue Quality work in a sponsor doing confirmatory after a tight auction now turns on a top customer is actually sticky because add-backs that are just delayed opex put post-merger systems-integration risk register in play. Integration-risk PMO should say what post-merger systems-integration risk register proves.

Decision

Integration-risk PMO in a sponsor doing confirmatory after a tight auction must choose Proceed / Reprice / Walk / Hold using post-merger systems-integration risk register after add-backs that are just delayed opex.

Hypotheses to test

• Post-merger systems-integration risk register reads as Proceed once add-backs that are just delayed opex is lined up to the same M&A Due Diligence population.
• Post-merger systems-integration risk register is closer to Reprice after add-backs that are just delayed opex; Proceed would over-claim this Earnings and Revenue Quality extract.
• Walk is still live in post-merger systems-integration risk register for integration-risk PMO in a sponsor doing confirmatory after a tight auction.
• Post-merger systems-integration risk register is missing the fact integration-risk PMO needs after add-backs that are just delayed opex; stop this M&A Due Diligence close.

Analysis required

• Name the document integration-risk PMO still needs before signing.
• Test whether add-backs that are just delayed opex is a diligence gap, a price chip, or a walk-away.
• Separate a one-off add-back from a recurring earnings issue in post-merger systems-integration risk register.
• For this M&A Due Diligence Earnings and Revenue Quality file, read post-merger systems-integration risk register against add-backs that are just delayed opex and write the one fact that would move a top customer is actually sticky for integration-risk PMO.

Recommendation

Choose Proceed / Reprice / Walk / Hold on this M&A Due Diligence / Earnings and Revenue Quality packet (post-merger systems-integration risk register after add-backs that are just delayed opex). Lead with the M&A Due Diligence option post-merger systems-integration risk register can support after add-backs that are just delayed opex, then the two facts that force it, then the Monday action for integration-risk PMO in a sponsor doing confirmatory after a tight auction.