Musk says ‘there’s a lot of merit’ to potential merger that would require approval of 50% of Tesla shareholders
Investors will be paying close attention to Tesla’s third-quarter earnings call on Wednesday afternoon, after chief executive Elon Musk floated the idea of merging the car company with his rocket and AI company, SpaceX. On a call with SpaceX investors on Tuesday, Musk said: “There’s a lot of merit to combining the companies.”
Musk said that the board of directors for both of his businesses had put together special committees to explore the potential merger, but had not yet reached an agreement on the terms of the transaction. The move would require the approval of 50% of all Tesla shareholders.
Continue reading...