RE: Offers24 Mar 2026 15:18
"Shut it down, and if a buyer approaches and is serious there are many ways address the issue of legal & professional fees."
Most business brokers in the city work on a "success fee" basis (1%+ of the deal value) . In the case of Spire , a failed deal may still incur costs but not the exaggerated lies of £7-10m reported on here. To put things in perspective, for instance, Twitter was bought for $44bn and incurred $150m in broker fees.
The last EV value on book was £2.05 bn for Spire. For sure, any broker would want £20-40m in fees. But no one was willing to pay £2bn.