Musk says Tesla-SpaceX merger talks underway, no deal certain

Elon Musk confirmed Tuesday that Tesla and SpaceX boards have formed special committees to discuss a potential merger, calling the idea "a good idea," though he stressed no deal is certain. Musk said the committees, formed at shareholders' request, consist of independent directors, and he cannot participate due to being a conflicted party. He pushed back on assumptions a merger is inevitable, noting no agreement on terms has been reached, and any Tesla deal would require approval from 50% of all shares. SpaceX shares rose about 5% in extended trading after reporting 161% revenue growth to $14.58 billion in Q3, its first profit as a public company. Tesla is expected to report Q3 financials Wednesday, with Barclays suggesting a deal could be announced before Tesla's annual meeting in December.