SpaceX, Tesla Merger Talks Advance, Deal Could Come in December

Tesla holds its annual shareholder meeting on December 3, and the directors who would approve a deal are up for re-election. Both companies formed special committees of independent directors in October to explore a merger. 

Musk has called the idea a good one but said nothing is certain, and Tesla would need approval from a majority of its outstanding shares. Democrats are set to gain control of Congress in January, and Electrek reports that they plan to scrutinize Musk’s companies. 

Investors should watch for formal filings that name advisers or list proposed terms. Such a filing would be the clearest sign that a deal is near.