Updated almost 11 years ago on .
Buying a business anonymously...
Ok, I'm looking to buy this business I have a minority stake in (Pennsylvania private S-corp). The business is failing and it is for sale, listed with a broker. I'm preapproved for up to the selling price but, by any valuation metric, it is unrealistically high.
Anyway, there is hostility between me and the seller and if he discovered I am the buyer, he would refuse to sell to me simply out of spite. I need to know the ways/methods by which I can remain anonymous to the seller and complete the sale. I already have a corporate name which I intend to place the offer in. But my mortgage banker tells me he must have the corporation's address on the preapproval letter and the seller recognizes that address. So, how should I pursue this?
As a sidenote, my mortgage broker informs me that my minority stake in the business will complicate a sale so he is instructing me sell the shares back to the majority owner for $1 (which will raise his suspicions) in order to facilitate a sale. Personally, I don't see why I need to do this and I didn't get a clear answer from him. Anyone have any insight?