Tesla and SpaceX CEO Elon Musk said a shareholder decision on a possible merger would be measured against Tesla’s full share count, as independent directors at both companies examine whether to pursue a deal.
Speaking on SpaceX’s Oct. 20 third-quarter earnings call, Musk said shareholder requests led each company to appoint a panel of independent directors. He said his leadership roles at both companies keep him out of the panels’ discussions. The distinction has been a focus in EconoTimes’ earlier report on the voting standard.
SpaceX’s third-quarter revenue reached $14.58 billion, 161% above the figure for the same period last year. It earned $4.4 billion in net income after recording a loss a year earlier.
Musk has described potential cooperation in AI software, chip design, robotics and connectivity as a benefit of combining the companies. The committees have not settled on a deal structure, and a transaction remains uncertain.
Tesla’s proxy for its Dec. 3 annual meeting lists no merger proposal, according to EconoTimes’ review of the meeting ballot.
