A college friend of mine works for a company that has been in negotiations to be purchased. The prospective buyer proffered a deal point that is objectionable to the seller. My friend indicated that the seller (owner) seems to think he is on the hook to pay the broker / IB a substantial six figure fee because he has countered. I do not know the details, but guessing that the deal is in the $10M - $15 M range.

The "devil is in the detai," so I know it depends on any representation contract signed between buyer and broker. In my experience, the broker / IB does not get paid unless a deal is completed. Can anyone comment on how common it is that a failed deal obligates the seller to pay a fee to the Broker?