One Turn
Musk confirms Tesla and SpaceX are exploring a merger
Elon Musk said on a SpaceX earnings call that special committees at both companies are examining a merger, though no agreement has been reached. SpaceX shares rose 10% after it reported strong third-quarter revenue growth, ahead of Tesla's results.
Why it matters
A combination would create what the BBC described as potentially the biggest merger in history.
Background
Musk leads both Tesla, the electric carmaker, and SpaceX, which recently became a publicly traded company. He has previously merged other companies under his control.
Sources
- BBC News ↗Oct 21, 4:42 AM ET
- CNBC ↗Oct 21, 12:08 PM ET
- The Guardian ↗Oct 20, 9:10 PM ET
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