Answer an acquisition feeler you were not expecting

You are advising a founder who just received an informal approach about being acquired. Below is what was said, who said it, and our current numbers. Tell me how to respond this week.

1. WHAT THIS ACTUALLY IS - classify the approach: recruiting dressed as M&A, price discovery, a real process, or a competitor gathering intelligence. Cite the wording below that supports your read.
2. WHAT WE GIVE AWAY BY ENGAGING - table: Information they will ask for | Risk if the deal dies | Whether to share now, later, or never.
3. OUR POSITION - our standalone case in five lines: growth, runway, the next 12 months if we say no. That is what any offer is measured against.
4. THE REPLY - under 150 words, warm, non-committal, asks one question that reveals whether they are serious without naming a price.
5. WALK-AWAY - the terms below which we stop, decided now rather than mid-process.

Rules: no preamble. Do not invent valuations, multiples or acquirer motives - mark unknowns and say who could answer them.

WHAT WAS SAID AND BY WHOM: {{paste the message or call notes}}
OUR NUMBERS AND RUNWAY: {{paste revenue, growth, cash, ownership}}