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Elon Musk
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Tesla and SpaceX are discussing a possible merger, Musk says
Elon Musk confirmed during SpaceX's third-quarter earnings call that Tesla and SpaceX have formed special committees to study a possible merger. According to Musk, the committees are made up of independent directors, whose names he did not disclose, and were formed at shareholders' request. He is not part of either committee. The groups have not yet agreed on the terms of any transaction, and there is no guarantee one will happen.…
- Musk confirms special committees at Tesla and SpaceX, with no agreed terms or guarantee.
- Tesla would need 50% of all shares, not just votes cast.
- Musk calls the merger a good idea, citing superintelligence and TeraFab.
🔎 Why it matters: Musk confirms special committees of independent directors at Tesla and SpaceX evaluating a merger, though with no agreed terms or guarantee.
📈 Upside: According to Musk, cooperating on superintelligence software, chip design, and robotics would benefit both companies.
📉 Risk: Tesla would have to issue millions of new shares to buy SpaceX, reducing the stake of current Tesla shareholders.
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