A thousand times yes! This is exactly how you respond. If someone says "Would you be open to an acquisition?" You can say "Would depend on the particulars of the deal." And if they want more info you politely decline and say "If you're interested in making an offer for the company, make it, otherwise let's move on to other business."
This advice is especially true of "big" companies trying to blind you with what you think of as "huge" potential only to try to see who your top employees are and whether or not they can poach them.
People who are serious about a potential acquisition will tell you, without any other information, how they would price such a deal. Don't start due diligence and the distraction it entails until you have both a signed memorandum of understanding, and the potential acquired has to pay you if they back out of the deal.
This advice is especially true of "big" companies trying to blind you with what you think of as "huge" potential only to try to see who your top employees are and whether or not they can poach them.
People who are serious about a potential acquisition will tell you, without any other information, how they would price such a deal. Don't start due diligence and the distraction it entails until you have both a signed memorandum of understanding, and the potential acquired has to pay you if they back out of the deal.