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At a glance
Special committees consisting of independent directors have been formed to discuss a potential merger between SpaceX and Tesla.
What the briefing reports
SpaceX and Tesla have formed special committees to explore a possible merger. The committees, composed of independent directors, were created at the request of shareholders and will review the potential merger. Elon Musk stated that he is not part of the discussions due to being a conflicted party.
According to available information, Tesla would need a 50 percent vote from all shareholders for the merger to proceed, while Elon Musk controls about 82 percent of voting power at SpaceX. The special committees consist of independent directors and were formed to discuss a merger, but Elon Musk says it's not a certainty.
Elon Musk likes the idea but says he is not on either committee. The special committees have not reached agreement on the terms of any transactions.
Cited sources
Updates and corrections
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