General Motors is still considering a deal with vehicle-maker Nikola

Will GM close the deal?

Broken or postponed deals seem to be the leitmotif of the week. After LVMH walked away from a $16 billion deal with Tiffany, the auto industry steps up with a deal that will not close anytime soon.

The largest carmaker in the US announced that the company’s “strategic partnership” with Nikola would not finalize before Wednesday. The deal got postponed due to allegations of fraud and sexual abuse that surfaced against Nikola’s founder and former executive chairman, Trevor Milton.

According to insiders familiar with the issue, the deal was nothing but profitable for General Motors. Under the partnership, the Detroit-based company would have received stakes of 11% in Nikola to supply the latter with batteries and technologies necessary in producing the Badger Pickup.

Now, both parties are at a round table discussing the possible partnership, with neither of them excluding a walk-away. Given the recent events, an end-date is set for December 3.

After the news, the GM stock price fell 2.4% to $28.74.