SpaceX says Tesla merger needs Elon Musk's approval

SpaceX stated Thursday that any potential merger with Tesla would require approval from majority shareholder Elon Musk, despite Musk recusing himself from negotiations between his two companies due to conflicts of interest. Musk, the world's richest person, said Tuesday that a SpaceX-Tesla merger would be "a good idea" and that special committees had been formed to discuss the union. SpaceX's regulatory filing noted no decision has been made, and any deal would need approval from its special committee, board, and majority shareholder. Wall Street analysts view the merger as a matter of "when" rather than "if," though they disagree on Tesla shareholder compensation. Musk holds nearly a fifth of Tesla and controls voting rights at SpaceX, raising concerns about how Tesla shareholder interests would be represented in the process.