{Morningstar}The boardroom was quiet in the way rooms become quiet when decisions are expected.The city stretched beyond the glass, restless and indifferent, but inside the room every movement carried weight. Directors spoke in measured tones, sliding reports across the table and outlining projections that would matter to most men. I listened without interrupting, because the most useful information usually surfaces before anyone realizes they have revealed it.“Expansion into the northern corridor would increase margin growth,” one of them said, tapping the edge of his file. “If we absorb the remaining logistics firms now, we remove future competition.”Another disagreed, pointing out exposure risks and regulatory timing. The discussion shifted back and forth, controlled but tense beneath the surface.I let them finish.Silence settled over the table when they were done, and their attention turned toward me then. “Acquire them,” I said at last, “but stagger the integration. I don’
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