Musk Backs Tesla-SpaceX Merger as Both Companies Form Special Committees

Elon Musk has publicly supported a potential merger between SpaceX and Tesla. Speaking on SpaceX's earnings call on Tuesday, the billionaire said both companies have created special committees to explore the idea. The committees are made up of independent directors. Musk said he cannot take part in their discussions because he is a "conflicted party." "Both SpaceX and Tesla have formed special committees to discuss this idea at the request of shareholders," Musk said on the call. No agreement on the terms of a transaction has been reached. The comments came as SpaceX released only its second-ever public earnings report.