SpaceX says Tesla merger requires Musk's approval

SpaceX stated 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 raised by analysts. Musk, the world's richest person, endorsed the idea Tuesday, calling a union "a good idea" and noting special committees had been formed. SpaceX's regulatory filing said no determination has been made, and any deal needs approval from its committee, board, and controlling shareholder. Wall Street analysts see a merger as likely, though they disagree on Tesla shareholder terms. Musk's public comments on the potential $3.5 trillion deal have rattled insiders, who fear scrutiny could delay the process by weeks and raise questions about protecting Tesla investors.