Tesla and SpaceX have set up committees to explore a merger

What happened: Elon Musk said Tesla and SpaceX have each set up special committees of independent directors to discuss a potential merger. Musk said he cannot take part in those groups. Why it matters: Musk said he personally thinks a merger is a good idea, but he cautioned that Tesla shareholders would need to approve it, calling that bar a high hurdle. Key numbers: Musk said Tesla would need a 50% vote of all shares, not just those who vote. Coverage: 7 outlets in 24h

Elon Musk said Tesla and SpaceX have each set up special committees of independent directors to discuss a potential merger. Musk said he cannot take part in those groups.

Musk said he personally thinks a merger is a good idea, but he cautioned that Tesla shareholders would need to approve it, calling that bar a high hurdle. Key numbers: Musk said Tesla would need a 50% vote of all shares, not just those who vote.