WORLDTECHSpaceX and Tesla form independent-director committees to weigh a merger
Independent directors at SpaceX and Tesla have set up committees to look at a possible combination of the two firms, according to Bloomberg Technology. Crypto Briefing also reported the move, which would bring together companies that share the same chief executive.
Committees look at a possible combination
Crypto Briefing reported that the two companies have formed committees to explore a merger. Bloomberg Technology, drawing on its own reporting, said the independent directors on both boards have formed committees to examine the idea.
The talks appear to mark a significant step toward a possible tie-up. Tesla is an automotive and solar company based in Palo Alto, while SpaceX operates as a space company from Hawthorne.
Collaboration areas and Musk's exclusion
The boards involved are reportedly weighing areas of cooperation such as artificial intelligence, chip design and robotics. Elon Musk leads both companies as chief executive, yet he is kept out of the discussions because of conflicts of interest.
Whether any agreement will follow remains unconfirmed. The reporting describes the committees as exploratory, and no deal terms have been reported.
Open questions
- Will the committees recommend a formal merger agreement?
- What terms, if any, would be proposed for the combined company?