Musk Says Tesla and SpaceX Merger Depends on Shareholder Support

Elon Musk said Tesla and SpaceX are exploring a merger, with shareholder support required and transaction terms still unsettled. Musk, chief executive of both companies, made the comments Oct. 20 on SpaceX’s third-quarter earnings call. He said he is excluded from committee discussions because he is a conflicted party. Separate committees at the two companies are considering a possible deal. Tesla approval would require votes representing 50% of all shares, rather than 50% of votes cast, Musk said. The threshold is based on the full share count. Together, Tesla and SpaceX held 30,221 Bitcoin (BTC) as of June 30.