[Scott Martin]

Hi Guys,

Got a letter from a firms solicitor saying that someone was interested in buying me over.

Find it i a bit suss, anyone had the same done to them?

Thought i would check with you guys before i contact their solicitor.

Cheers

[Ian Hare]

This suggests that you are successful in your business in your area.

It is either a genuine offer... because you're a success;
or bogus.. and someone want's to lay their hands on confidential info about your business, because you're successful.

The only question is, do you actually want to sell up anyway?
Otherwise, whether genuine or bogus is immaterial to you, except for curiosity.

[Mike Halliday]

I would think this is a similar ploy used by estate agents, we often get letter saying someone wants to buy our house but really they just want you to put your house up for sale with them.

if you contact this company they will say that the buyer has bought eslewhere but they have other client looking for similar companies and if you register with them ( at a cost of £240 :  )they will pass on your details

Mike

[Big_Fish]

A couple of years ago there was a case locally of a chiropodist who had been asked via a solicitor about selling her company. She contacted the solicitor who asked for certain details of her business so that it could be valued. Upon completion of valuation the solicitor contacted the original persons wanting to purchase the company and the chiropodist with the valuation. The chiroposist decided not to sell her business but to expand and change some aspects as the whole procedure had highlighted certain areas of weakness within her company.

Although the chiropodist tried to continue in business with the view to make her company stronger, she found that her client base and surgery locations fell away quickly. Upon investigation, she discovered that the persons who had asked her to sell the business has taken her clients and had been able to do so following the report that was drawn up during valuation. Although the clients were not named personally, the income from surgeries held in certain locations was. These locations were then taken from her by what turned out to be a large healthcare company.

It was in the news as it went to court. I cannot remember the outcome and more detail.

I'd say be careful.

Nicky

[Don Atkinson]

Hi Guys,

Got a letter from a firms solicitor saying that someone was interested in buying me over.

Find it i a bit suss, anyone had the same done to them?

Thought i would check with you guys before i contact their solicitor.

Cheers

Its was actually me who put the bid in, I was informed by my solicitor that you were looking for......
Half eaten turkey and a bag of sprouts to fix the deal.

[Chris Bailey]

Scott

Firstly, if you want to sell then you should make contact with the solicitor.  Then you should insist on a confidendiality undertaking BEFORE giving any information regarding your business.

If it was me, then I would be putting a valuation on my business, not anyone else so speak to your accountant, he will be able to help with this, I work on the general rule that the business is worth 50% of its annual turnover.

Final tip, It is normal practice for the purchaser to pay your legal fees.

Hope this helps

Chris