£10-12m could be seen as a decent deal for the left-back. This means we'll have to go up to £15m, at least. Remember that David Moyes was furious with Manchester City because they bid £24m for Joleon Lescott. Now recall that Everton are led by Bill Kenwright. This one is going to be a very painful saga for, in my opinion, not a lot of value.
We'll see how this one develops, but United really don't need to be spending huge amounts to sign Baines when for the same price or slightly more they could get far better options like Fabio Coentrao or Alex Sandro. We'll see how this deal progresses, but I hope United don't throw too much money after this one. If the worst comes to the worst, another year of Patrice Evra won't kill us.