Elon Musk said the companies’ boards formed special committees of independent directors to discuss a potential merger, adding that conflict-of-interest rules prevent him from participating. The Financial Times reported that Musk supports combining most of the businesses under one public company and cited a person close to Tesla’s board who said the potential transaction could take the form of SpaceX issuing shares to acquire Tesla. The final structure and scope have not been confirmed. No agreement has been reached, and the proposal still requires review by the committees, approval from a majority of Tesla shareholders and regulatory clearances.