Musk says SpaceX-Tesla merger a ‘good idea’, special committees formed for talks

SpaceX shares rose 4.9% in extended trading following the remarks. Speculation about a potential deal has grown in recent weeks, with Barclays suggesting last week that an announcement could come before Tesla’s annual meeting in December. Musk has previously floated the idea, pointing to increasing overlap between the businesses. The merger discussions came as SpaceX reported its first profit as a public company.