On Oct. 20, 2026, during SpaceX's third-quarter earnings call, Elon Musk said the Tesla and SpaceX boards had each formed special committees of independent directors to discuss a merger. He said the committees were formed at shareholders' request, that he is not a member of either one, and that they have not agreed on terms. He also said a Tesla approval would need 50 percent of all outstanding shares, and that a deal is not guaranteed.
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