PatUK
If you cannot provide the financing that was agreed as being necessary to complete your purchase of a business within the timescale you agreed in the sale contract, all you can do is ask the Seller for more time to do so. If, of course, you have no new possible financing options to present to the Seller at that date he is entitled to take alternative steps. I would think that is the likely scenario in this case so Ettyl had to withdraw their purchase interest by default.