SpaceFortuneabout 1 hour ago
Tesla Shareholders Block SpaceX Merger
6 min read
Elon Musk, CEO of SpaceX and Tesla, backed a potential merger creating a roughly $3.5 trillion behemoth, but independent directors formed special committees to evaluate the deal. Musk controls about 85% of SpaceX's voting power versus roughly 20% at Tesla, requiring a majority of all outstanding shares to pass.
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