Tesla and SpaceX CEO Elon Musk said Tuesday that two of his companies are exploring a possible merger and have formed shareholder committees to consider the option.
Musk said a merger of the two companies was not guaranteed, but that he supported the idea. Because the billionaire runs both companies, he is not allowed in the discussions regarding the possible merge.
"Both SpaceX and Tesla have formed special committees at the request of shareholders," Musk said on an earnings call. "Because I'm a conflicted party I actually can't be in these discussions of these special committees ... I think some people out there think a SpaceX and Tesla merger is a certainty, I think that would be overstating it. Do I think it would be a good idea? Yes.
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