I pause, not for drama—because I’m deciding how blunt I want to be.
“They are competent,” I say finally. “They will be persistent. And they have appetite.”
Eleanor’s eyes sharpen further. “Did anything feel off?”
I hold her gaze. “They were very interested in how due diligence would be structured. Specifically, who would be signing off internally and what the timeline would be.”
David looks up sharply. Malcolm’s face tightens.
“They asked about you without knowing it was about you,” Malcolm says with a small tilt of his lips.
“Yes,” I answer.
Eleanor’s mouth curves slightly. “They’re smart.”
“They are,” I agree. “They understand how it works.”
David’s pen taps once. “And did you give them anything?”
“I told them what I would tell anyone,” I continue. “That the process is the process. That no one skips it. That we don’t do special timelines because someone wants to make an announcement before the quarter ends.”
David’s mouth twitches, approving. Eleanor’s eyes stay on me, assessing.
Malcolm folds his hands again. “Any sense of funding structure.”
I glance at my tablet, scroll once. “They implied they have backing that can move quickly. They did not offer specifics in the room, and I didn’t ask for any. That’s not the purpose of an initial meeting.”
David nods. “But.”
“But,” I agree, “the confidence wasn’t performative. They weren’t bluffing. They expect to be taken seriously.”
“And in terms of fit,” Malcolm asks.
I don’t hesitate. “I have concerns.”
The room goes still. That’s the thing about me. When I say that, it means something.
Eleanor’s eyes narrow. “Concerns about what?”
I hold my posture steady. “About what happens when a company that prizes discretion and compliance becomes a vehicle for expansion. When growth becomes the primary objective, corners get… discussed.”
David’s mouth tightens. Malcolm’s expression is controlled.
“And,” I add, because it matters, “they were very interested in influence. Not just acquisition. Influence.”
Eleanor’s gaze sharpens. “Influence over what?”
“Over operations,” I say. “Over access. Over how decisions get made.”
David’s pen stops again. “That’s not surprising.”
“No,” I agree. “But it’s informative.”
Malcolm’s voice is calm when he speaks. “All right. We’ve got enough to work with.”
He looks to David. “Draft a summary of competitive posture.”
David nods, already doing it.
