Nikola's Deal With GM Was Supposed to Close Today—It Didn't
Freeman writes:
Nikola's deal with GM was supposed to close today-it didn't:
When Nikola and GM announced a partnership on September 8, GM said it expected the deal to close by September 30. Now September 30 has arrived, and the deal hasn't closed. Media reports indicate that the deal is unlikely to close today.
A GM spokesman confirmed the delay in an email to Ars. "Our transaction with Nikola has not closed. We are continuing our discussions with Nikola and will provide further updates when appropriate."
[...] September 30 isn't a hard deadline. According to Nikola's regulatory filing about the deal, the transaction can be terminated by either party if it hasn't closed by December 3. So talks between the companies could drag on for another two months.
Previously:
Nikola Founder Bought Truck Designs From Third Party
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