So he basically gave you a business proposition, we can look at it like that.
Business A is looking to purchase Business B. (They serve the same territory, there are many redundancies and the two businesses could combine expenses/ employees)
Business B has shaky clientele, newly leased office property, and their books seem to be beset with large cash withdrawals. Because Business A is highly invested in a positive outcome (being the only business in town) Business B stills seems an attractive prospect.
Business A decides that a forensic accounting of Business B would come in handy in making the decision to acquire Business B.
Business B bails on handing over the documents becuase they just couldn't get up in time to make it to the meeting, and because they hate people.
Business A withdraws from the negotiations with Business B because they do not have enough information to make an offer or proceed.
Business B fails in a few years, and Business A watches from the sidelines and is grateful for the expanded clientele.
Good things comes to those who wait.
E