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Knowledge Challenge
A friend thinks you can answer this question about Post-Merger Integration
An acquirer closes a $2B deal where the synergy model assumed $400M of annual synergies (20% of deal value) by year 3. Two years post-close, captured synergies are $180M. Top engineering talent attrition is 38% in year 1, customer revenue from the acquired base is down 14%, and the integration leader role has been a part-time responsibility of a VP. What is the most likely root cause?