Tesla and SpaceX Form Special Committees to Explore Potential Merger
The boards of both companies have formed independent committees to review a tie-up, as Elon Musk voices support but remains barred from talks.
The boards of directors of Tesla and SpaceX have established special committees of independent directors to evaluate a potential merger between the two companies, Financial Times, Business Insider, and TechCrunch reported.
Elon Musk, who leads both companies, stated that he supports the merger idea but clarified that he is not a member of either committee and cannot participate in the discussions due to his holdings and roles.
Musk cautioned that completing such a deal faces a high hurdle for shareholder approval. He emphasized that on Tesla's side, approval would require a vote of at least 50% of all shareholders, rather than just those who cast a ballot.
Sources: TechCrunch, Business Insider, Financial Times
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