Musk says SpaceX-Tesla merger 'good idea'; special committees formed
Briefing by News4U · First published
Elon Musk confirmed special committees are assessing a merger of Tesla and SpaceX, calling it a 'good idea' but stressing no deal is agreed.
Elon Musk said a merger of Tesla and SpaceX would be a 'good idea' and confirmed both companies have formed special committees of independent directors to assess the deal, though he stressed no agreement has been reached and shareholders must approve any transaction. [1] [2] [3] [4]
SpaceX shares rose 8-9% and Tesla shares rose 1.5-1.8% in after-hours trading after the comments. Musk said the committees were formed at shareholders' request and that he cannot participate because he is a conflicted party. [1] [2] [3] [4]
SpaceX reported its first quarterly profit as a public company, with revenue of $14.58 billion and net income of $4.4 billion, driven by AI-related data-centre demand. [3] [4]
Sources
- Why is Elon Musk plotting a mega-merger of SpaceX and Tesla?
BBC Business · · Full text
- 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
- SpaceX and Tesla explore merger that would unite more than 30,000 bitcoin
CoinDesk · · Full text