What baffles me is that he would have just followed the tried and tested procedures of acquiring a company he would have paid less and would have had a chance to reconsider if he reaely wanted to during due diligence.

Instead he made a take-it-or-leave-it offer with a ludicrously tight schedule and locked himself into an unfavorable deal without any obvious reason.

I am certain there is a bad decision in there sometimes and I'm wondering what it it might be.

A small part of me thinks that maybe he was uncertain and scared that he would back out so he took that option off the table preemptively.