They'll be made to sign the most legally complex NDA that's possible.
Absolute rubbish. NDAs are effectively worthless. I've said it all before on the Board thread but this exchange just summarises the way a pile of crap can get a hold on the internet.
A NDA is designed to protect the confidential information that company A would offer up to company B during the course of a merger/takeover or other business deal.
Leave aside for the moment the practical difficulties of actually proving who at company B gave out the confidential info (and all their advisers and secretaries etc etc) but how could company A claim rights over company B's intention to put out a press release that it had looked at buying Everton but pulled out after due diligence?
The other matter is that to sue following a NDA breach - you have to be able to show that the company (i.e. Everton) had suffered a loss. No loss = no claim.
So suppose Apex Inc. a US global sports fund had picked up Bill's prospectus in the post and decided to follow it through. After a few weeks of working on the project Apex and its lawyers, accountants, operations team, football advisers, media advisers and development advisers pull out as they just can't see a way to justify that £125m price tag.
Don't you think it would be possible that one of that merry group would actually see some benefit in getting out the story that Apex and its advisers were serious about buying Everton, had the funds waiting, but pulled out respectfully after extensive due diligence?
How would Everton hope to pin down who leaked it?
On what grounds would that statement contain any confidential info covered by a NDA anyway?
What loss could Everton claim they had suffered as a result of that statement?
And that's just to go down the route that this Apex company or its advisers just wanted the reflected glow of the world knowing they'd been in for a big deal. There is an alternative that Apex feel strongly that their £90m bid say is more than enough and they feel they could really do a job at Everton (and make a load of money down the line). Surely that'd be even more incentive to leak a bit of news to the press.
Where could Bill turn faced with that headline that a serious party wanted to come in and let him triple/quadruple his original investment?
To me the fact that those stories have not come out smacks that there haven't been any serious parties at the table.