unless it meets SEC disclosure laws then a price is almost always leaked, and then often in ballpark responsibility for leaks, almost in order, would be angel

unless it meets SEC disclosure laws then a price is almost always leaked, and then often in ballpark responsibility for leaks, almost in order, would be angel investors, VC investors, lawyers and then founders, almost always on the side of the company being purchased. M&A execs, founders and investors sometimes leaks sales negotiations when they believe it is in their favor to do so.