They sold because there was no plausible larp they could concoct that would prevent shareholder mutiny. Elon offered them more than the stock was worth. The board can't reject that without breaching their fiduciary duty to the shareholders. And that for sure would be litigated. Not exactly a grey area of law.

Now the real question is, why didn't they put up one of their front groups like blackstone or vanguard or even Soros himself to "buy" it (likely on our taxdollar dime) so Elon didn't get it? Was Russia in Ukraine a problem to funding such a venture? Seems odd that not a single frothing at the mouth marxist capital group (irony duly noted) stepped up to the plate here.