Brief
Elon Musk says Tesla‑SpaceX merger a “good idea” as boards form committees
Musk confirmed the boards have set up independent committees, but he will not take part in discussions.
By Felo News Desk · Published
Elon Musk told investors on Oct. 20 that a merger between Tesla and SpaceX would be “a good idea,” while confirming that each company’s board has created a special committee of independent directors to explore the possibility.
Musk said he is a conflicted party and will not join the committees’ talks. He added that any deal would need approval from at least 50% of all Tesla shares, not just the voting shares.
SpaceX shares rose about 5% in extended trading after the third‑quarter earnings call, which also reported a 161% revenue jump and the firm’s first profit as a public company. Barclays suggested a deal could be announced before Tesla’s December annual meeting.
Key facts
- Musk called a Tesla‑SpaceX merger a "good idea" on Oct. 20 (gulfnews.com)
- Both boards have formed independent committees to study the merger (gulfnews.com)
- Musk said he cannot take part in the committees' discussions (gulfnews.com)
- A merger would need approval from at least 50% of all Tesla shares (gulfnews.com)
- SpaceX shares rose about 5% after the earnings call (gulfnews.com)
Sources
- [1] gulfnews.com — originally reported as “Elon Musk Confirms Tesla-SpaceX Merger Talks Amid Market Buzz”
