SpaceX and Tesla have formed special committees to explore a potential merger, a move that would represent the largest corporate tie-up of all time. The resulting conglomerate would span electric vehicles, batteries, rockets, and satellites.
Elon Musk stated that he is not a member of either committee and is not involved in the talks, as he is considered a conflicted party under securities regulations. The committees are instead composed of independent directors. Musk described the situation as an odd kabuki dance where two groups of people are talking and he cannot be part of the conversation.
Despite his exclusion from the talks, Musk expressed support for the idea, stating that he believes there is a lot of merit to combining the companies and that a mega merger would offer many benefits. Barclays has suggested that an announcement regarding the deal could occur before Tesla's annual meeting in December.