SpaceX Filing Gives Elon Musk the Final Word on Tesla Merger He Says He’s Staying Out Of
Summary
SpaceX’s October 22 SEC filing says a potential merger with Tesla would require approval from special committees, both boards and SpaceX’s controlling shareholder, Elon Musk, who holds about 85% of its voting power. The disclosure raises questions about how independent the review can be, given Musk’s influence and prior public support for the deal, which reportedly complicated negotiations. Tesla shareholders would need to approve it with at least 50% of all outstanding shares. Analysts estimate a combined company could be worth about $3.5 trillion, with Musk holding roughly 57% of its voting power. Tesla’s annual meeting is December 3.
