I'd actually say that the macro market changed so dramatically during the debacle that he got cold feet given that his other assets devalued and still had to pa

I'd actually say that the macro market changed so dramatically during the debacle that he got cold feet given that his other assets devalued and still had to pay the asking price for an overpriced company is why he tried to back out. Though he might not have a plan - that's also plausible.