Even before the poison pill was adopted, the evidence is the market wasn't taking Musk's offer seriously. That's because he was offering $54.20 per share (ha ha, 420), but the stock price never closed higher than $48.36. So almost $6/share was left on the table.
Part of it is that Musk doesn't have $43B in cash, he'd have to raise it or borrow it. He's worth more than that but it isn't liquid; as an officer of Tesla there are some restrictions on when he can trade. Another part is that many doubt whether Musk is serious or if he is playing games again, like the last time "420" appeared in a financial announcement from him.
Part of it is that Musk doesn't have $43B in cash, he'd have to raise it or borrow it. He's worth more than that but it isn't liquid; as an officer of Tesla there are some restrictions on when he can trade. Another part is that many doubt whether Musk is serious or if he is playing games again, like the last time "420" appeared in a financial announcement from him.