Tesla and SpaceX Form Committees to Evaluate Possible Merger

Tesla and SpaceX have formed special committees of independent directors to evaluate a possible merger, Elon Musk said during SpaceX's third-quarter earnings call. Musk said the committees were formed at shareholders' request, but cautioned that a deal is far from guaranteed. Neither SpaceX's earnings filing nor any Tesla filing mentions the committees; for now, Musk's remarks are the only source. According to The Wall Street Journal, no formal plan exists. Musk said a merger would require backing from 50% of all Tesla shares, not just those voted.…

• Musk says both companies formed committees of independent directors
• Musk says a merger requires backing from 50% of all Tesla shares
• The committees have not agreed on terms of any transaction

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