According to Jim Spence on Twitter.

"Deal dead for Stephen Thompson’s majority shares sale in @dundeeunitedfc
Potential buyer John Gibson, has pulled, out saying unacceptable conditions were being imposed after he thought he had a deal. Doesn’t sound like it’ll be resuscitated. Perhaps current board will buy !"

Sun reporting that it's a consortium led by Gibson including other local wealthy fans.

Gibson distanced himself when asked about it.