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Barclays Says a SpaceX Merger Is Now "a Key Part" of the Tesla Bull Case. Here's Who Actually Wins if It Happens -- and Who Pays.

The Motley Fool·
Barclays Says a SpaceX Merger Is Now "a Key Part" of the Tesla Bull Case. Here's Who Actually Wins if It Happens -- and Who Pays.

Elon Musk confirmed that SpaceX and Tesla have formed special committees to explore a merger. Barclays upgraded Tesla to overweight with a $450 price target, suggesting SpaceX would acquire Tesla in an all-stock deal, giving Tesla shareholders a ~20% valuation premium. The deal would require regulatory approval and 50% shareholder approval, with Tesla shareholders appearing to benefit more than SpaceX shareholders due to dilution concerns.

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