The sale will happen at a lower price. Even though Elon would probably be forced to do the deal in 3-4 years. This whole thing actually creates a golden bridge

The sale will happen at a lower price. Even though Elon would probably be forced to do the deal in 3-4 years. This whole thing actually creates a golden bridge eventually for the twitter board to retreat on. The board now has an obligation to sue, otherwise they are breaching their fiduciary duty. However, almost all shareholders will realise that a 2-3 year litigation at the end of which Elon might be forced to buy, is a long way away. Better to settle for a lower price now. Both shareholders and Elon will see this. The board just needs to demonstrate they are fighting for shareholders. I predict in 3-4 months the board will offer a shareholder vote with a lower price, and shareholders will realise that it's way better to take that deal than wait for litigation.