Some purchase price conflicts are technical.

But many are emotional.

When a buyer suddenly becomes interested in enterprise vs. equity distinctions only after a valuation comes in low… that’s not curiosity.

That’s a pressure response.

The buyer is trying to find a “math door” that leads back to the number they already chose.

And lenders feel that tension too, because everyone wants the deal to close.

But clarity matters:

A valuation can’t be contorted into supporting a price that the business doesn’t support economically.