For a talented young striker, I'd say that was pretty normal. For the same striker in the England squad you'd be looking at £20m, you couldn't buy one leg for £11m.
Thats just Conjecture though, we wont know that yet.
IMO, you could get sturrudge for around £10 Million, Bent around the same, Defoe even less.
The lad at Sunderland they got from Ipswich (name escapes me), is going on loan, and the paid around £8 Million for him.
Again, im just adding balance to this whole view, that only English over-value their players. Destro & Borini are good examples, and even Varretti !!!