LOI COUNTERS IN WRITING
I submitted an LOI to a broker for the business I'm interested in, didn't get anything back in writing. I asked for a counter and the broker said "that's not how it's done in the M&A world". He told me verbally the number and terms necessary (very one sided terms) it would take to get the deal done but nothing in writing from the seller. Broker wants me to submit a new LOI and now it feels like I'm negotiating against myself. Is it too much to ask for a written counter to my LOI? Two previous negotiations involved back and forth with the seller, this is my first interaction with a broker representing the seller.