SpaceX, Tesla form committees to explore $3.5 trillion merger
What's next: Tesla would need backing from 50% of all shareholders, not just a majority of votes cast.
SpaceX and Tesla have set up special committees to examine a potential merger that would combine Elon Musk’s rocket, satellite internet and AI operations with Tesla’s electric vehicle, energy and robotics businesses. Based on the companies’ cited values of about $2 trillion for SpaceX and nearly $1.5 trillion for Tesla, the deal would rank among the biggest corporate tie-ups ever. Musk said he is not taking part in the committee talks because of a conflict and cautioned that terms have not been agreed. He argued the companies could gain by working more closely on superintelligence software. After SpaceX reported quarterly results, its shares rose 4.6% in post-market trading while Tesla gained 1.2%.