Musk says SpaceX-Tesla merger 'good idea' as firms form committees
Briefing by News4U · First published
Elon Musk confirmed SpaceX and Tesla formed special committees to explore a merger, calling it a 'good idea' but premature to assume it will happen.
Elon Musk said a merger between SpaceX and Tesla would be a 'good idea' and that both companies had formed special committees of independent directors to discuss the matter, confirming long-standing speculation. [1] [2] [3]
SpaceX shares rose 8% and Tesla shares rose 1.8% after the comments. Musk owns nearly a fifth of Tesla and just under half of SpaceX. At least 50% of Tesla shareholders would need to approve any deal. [1] [2]
SpaceX posted its first profit as a public company, reporting net income of $4.4 billion for the third quarter. Musk said the company expects annual recurring revenue of $500 billion to $1 trillion by the end of 2027. [1] [2]
Sources
- Musk says SpaceX-Tesla merger 'good idea' as companies explore union
DW English · · Full text
- Musk says SpaceX-Tesla merger 'a good idea'
RTÉ Business · · Full text
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