The Board Email About "Taking Out" the Rival
Deal rationale written for the board — "neutralize our only real competitor" — becomes the government's favorite kind of exhibit.
Boards want the strategic logic in plain English. Sometimes it comes out a little too plain.
The message
"This acquisition lets us take out our only real competitor and finally stop the price war we've been stuck in."
Why it mattered
In a merger investigation, the government would rather have your emails than your economists. "Take out our only real competitor" describes the elimination of competition; "stop the price war" describes ending the very rivalry that keeps prices down for customers. A single board email in this register can shift a case from a close call to a headline, because it speaks directly to intent.
Before you hit send
The strategy can be sound; the phrasing is radioactive. Coaching flags "take out," "dominate," "only competitor," and "stop the price war" as they're written and prompts for rationale grounded in customer benefit and efficiency — the same deal, described in language that doesn't testify against it.
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