SpaceX merger with Tesla hinges on Musk's approval

SpaceX said Thursday that any potential merger with Tesla would require approval from controlling investor Elon Musk, despite his recusal from talks due to conflicts of interest. Musk had endorsed the idea earlier this week. In a regulatory filing, SpaceX stated no decision has been made by its special committee, and any combination would need approval from the committee, board, and controlling shareholder. Analysts see the merger as likely, though they disagree on Tesla shareholder terms. Musk owns nearly a fifth of Tesla and holds voting control at SpaceX, raising concerns about shareholder representation. The potential $3.5 trillion deal could simplify decision-making and boost AI efforts, but has drawn scrutiny from insiders.