Elon Musk says SpaceX and Tesla exploring largest merger in history

What happened: Elon Musk said SpaceX and Tesla have set up special committees to explore a possible merger, with no agreement reached on a proposal yet. Key numbers: Combined market capitalisation about $3.5 trillion. SpaceX shares rose more than 8 percent after hours, Tesla 1.8 percent. SpaceX net profit $4.4bn in the July-September quarter versus a $1.05bn loss a year earlier. Why it matters: Musk said the idea has "lot of merit" but called a merger far from certain, saying shareholders must be supportive. An M&A expert cited "sound logic" in shared manufacturing, AI and robotics expertise. Coverage: 15+ outlets in 24h

Elon Musk said SpaceX and Tesla have set up special committees to explore a possible merger, with no agreement reached on a proposal yet.

Musk said the idea has "lot of merit" but called a merger far from certain, saying shareholders must be supportive. An M&A expert cited "sound logic" in shared manufacturing, AI and robotics expertise.