Musk says SpaceX and Tesla exploring merger worth over $3 trillion
Briefing by News4U · First published
Elon Musk says SpaceX and Tesla have formed committees to study a merger, calling it a good idea but stressing it needs 50 percent Tesla shareholder approval.
Elon Musk said SpaceX and Tesla have set up special committees to explore a merger that would create a company valued at more than $3 trillion, the largest in history. He described the idea as having “a lot of merit” because of shared work in artificial intelligence, but added that any deal would require a 50 percent vote among Tesla shareholders. [1] [2]
SpaceX reported its first quarterly profit since going public, posting a $4.4 billion net profit for July-September, reversing a $1.05 billion loss a year earlier. Shares of SpaceX rose more than 8 percent and Tesla shares gained 1.8 percent after the comments. [1] [2]
Sources
- Elon Musk says SpaceX and Tesla exploring largest merger in history
Al Jazeera · · Full text
- Elon Musk backs SpaceX-Tesla merger as rocket firm turns profit
Euronews Business · · Summary only