Being contractually able to pull out and doing so are vastly...

Being contractually able to pull out and doing so are vastly different things.
Neglecting to consider EV's long term views for SFI's camera tech, if they pulled out and SFI's SP tanked, there's no guarantee they would be able get us at a bargain basement price - there's a risk that other potential suitors would also have a punt. Then they risk the technology falling into the hands of a competitor and no camera systems to compete with.

Personally, I have a feeling this was an ambit. EV are unlikely to have any realistic hopes for this offer being approved. The announcement was, however, very effective at spooking a good chunk of the shareholders into evaluating what would actually be a price they would accept - out of desperation, some of us have come up with figures of 10c-12c... EV would still be very happy for such an outcome.

Before this offer, many were expecting a long run SP of over 30c. Let's no lose track of that.