There is a large merger arb on this if he is in fact on the hook for $54.20 which seems highly likely. I'm wondering what hackernews legal experts think.
+ Part 1 - https://www.youtube.com/watch?v=QXxeyOVpnCU + Part 2 - https://www.youtube.com/watch?v=_SfXoCj4TLk
Part 2 - Patrick has some comments about the legality of Musk backing out.
There is $14 a share in the trade currently if specific performance has any real world enforceability.