Elon Musk said on SpaceX’s earnings call that both boards formed special committees of independent directors to discuss a merger. He said he cannot take part as a conflicted party, called a deal a good idea with a lot to be gained in AI, chips, robotics and software, and said treating a merger as certain would be overstating it. At least 50% of Tesla shareholders would have to approve. SpaceX is valued at more than $2 trillion and Tesla at nearly $1.5 trillion. SpaceX shares rose 8% after hours and Tesla shares rose 2%. Tesla reports results Wednesday.
CONTESTED: Musk said a SpaceX-Tesla merger is not a certainty. Gene Munster said there is a 95% chance within two years and shareholders would support this.
