Economy Talk

Who actually decides on the SpaceX–Tesla deal?

The GONOM post says both companies have set up special committees of independent directors, Musk has recused himself, and shareholders would have to approve any deal. Musk himself says "it's really up to the special committees".

But how independent can a committee be when the person on both sides is the founder, largest shareholder and public face of both companies? I'm genuinely asking, not trying to stir. Does the process have real teeth, or is it mostly formality?