Musk explores $3.5 trillion Tesla-SpaceX merger with board review
What's next: Special committees at both companies are weighing terms, and at least 50% of Tesla shareholders would need to approve any deal.
Elon Musk is pushing toward a possible merger of Tesla and SpaceX, a deal that would combine two of his biggest companies into a business worth roughly $3.5 trillion. Musk said special committees at both companies are reviewing a potential transaction, though he cautioned that no terms have been agreed and there is no guarantee a deal will happen. He argued a tie-up could deepen cooperation on chips, artificial intelligence, robotics, software and manufacturing. The proposal would rank among the largest mergers ever. SpaceX shares rose 8% in after-hours trading and Tesla gained about 2%. Musk said he is not serving on either committee because he is a conflicted party as chief executive of both companies.