Musk: Tesla and SpaceX have formed committees to study a merger — WSJ, FT, Reuters
WSJ, FT and Reuters report Musk said Tesla and SpaceX formed committees to discuss a possible merger — the first time the long-running merger talk has reached a formal review step.
The WSJ reports Musk said on SpaceX's Q3 earnings day that Tesla and SpaceX have each formed committees to discuss a potential merger. The FT reports the two companies will study a combination, and Reuters says Musk called a merger a "good idea."
On Oct. 15 Barclays floated a merger announcement before the annual meeting while the company declined comment. What is new now is that Musk himself disclosed the committees.
Forming committees is only a review step. Terms, timing and exchange ratio were not reported, and a deal is not assured. Watch for filings ahead of the Dec. 3 annual meeting.
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