“You should have called first. Neither are for sale.”
“I understand. But I still think you’ll find our offer at least a little bit interesting.”
“If you want to waste your time, I’m listening.”
“Could we…” He glanced past my shoulder. “Is there a place where we could sit and talk privately?”
I showed him to my office and pulled up a chair for him in front of my desk. I sat in my own chair and leaned back.
“I understand your land and business are owned by Tee-Fitz, Inc.?”
“It’s a family business.”
“Right. And the business owns thirty-two hundred acres of timberland, including a private lake.”
“That’s right.”
“Also various operating assets used in conducting a year-round resort, such as this beautiful lodge, outbuildings, a boat dock, and personal property.”
“You’re telling me things I already know.”
“My due diligence tells me you have a somewhat loyal clientele base, though it’s unclear how profitable.”
I didn’t say anything to this, but I did wonder where he was getting his information.
“My company is interested in an asset purchase for tax purposes. We’d like to buy the land, the buildings, and all personal property associated with operating the business—everything from horses, equipment, right down to the table linens—including trade names, websites, logos, and the corporate name for five million, even.”
“Five million?” I knew for a fact that was about two million more than it was worth.
“I brought with me our non-binding Letter of Intent for your consideration.” He pushed it across the desk toward me. “We’d of course want to do a title examination and have an engineer review at least the main lodge.”
“Thanks, but I said I wasn’t interested.” I pushed the paper back.
“We’d also assume all corporate debts, known or unknown. With a reasonable cap, of course.”
At that announcement, my heart stuttered, but fortunately human ears would have been unable to detect the slip. I still hadn’t got to the bottom of my father’s finances, and I worried there were hidden landmines yet to be discovered.
“Would you keep the resort running, or sell it off bit by bit?”
He smiled. “We’d keep the resort running but add onto it with condominiums. A hotel. Shopping mall. Golf course.”
“Golf course?” Was this the same group that Uncle Joe had mentioned before? “Do you know Joe Turnbull?”
“Joe. Yes. Purely professionally. He’s been helping us with a project in Ely, Minnesota. We knew he had a relationship with your family and we asked him several weeks ago if he thought you’d be interested in selling.”
“And what did he say?”
“Same as you. That you wouldn’t be interested.”
I exhaled sharply through my nose.
“But this offer would set you and your siblings up to pursue whatever futures you imagine for yourselves. I got the impression this business was your father’s baby. None of you were ever made a partner. Is this where you truly saw yourself—running a resort without your father?”
“I think you should leave.”
“Of course. But think it over. At least talk to your family about it.”
I rose from my chair, using my imposing size to my advantage.