Musk says SpaceX-Tesla merger 'good idea'; 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 that both companies have formed special committees of independent directors to assess a potential deal, though he stressed no agreement has been reached and shareholders must approve any transaction. [1] [2] [3] [4] [5]
SpaceX shares rose 8% and Tesla shares rose 1.5-1.8% in after-hours trading. Musk said the committees were formed at shareholders' request and that he cannot participate because he is a conflicted party. [2] [3] [4] [5]
SpaceX reported its first profit as a public company, with third-quarter revenue of $14.58 billion and net income of $4.4 billion. [3] [4] [5]
Sources
- Tesla and SpaceX Formed Committees to Discuss Potential Merger, Elon Musk Says
WSJ Business · · Summary only
- Why is Elon Musk plotting a mega-merger of SpaceX and Tesla?
BBC Business · · Excerpt
- 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 · · Excerpt
- SpaceX and Tesla explore merger that would unite more than 30,000 bitcoin
CoinDesk · · Full text