Tesla and SpaceX explore merger as Elon Musk gives backing

Billionaire, on SpaceX earnings call, says ‘special committees’ exploring idea but no agreement reached yet As SpaceX released its second-ever public earnings report Tuesday, Elon Musk declared his support for combining the aerospace and AI company with his electric vehicle compa

Billionaire, on SpaceX earnings call, says ‘special committees’ exploring idea but no agreement reached yet As SpaceX released its second-ever public earnings report Tuesday, Elon Musk declared his support for combining the aerospace and AI company with his electric vehicle company, Tesla. He said both companies had created special committees to explore a potential merger, but have not reached any agreement on terms of a transaction. “Both SpaceX and Tesla have formed special committees to discuss this idea at the request of shareholders and these special committees are, uh, consist of independent directors,” Musk said on the call.

“Because I’m a conflicted party, I can’t actually be in the discussions of the special committees.” Continue reading...