Tesla and SpaceX Move Closer to a Deal. What Would Tesla Shareholders Get? Moz Farooque ACCA Fri, November 13, 2026 at 2:31 PM EST 2 min read TSLA -1.69% SPCX +0.15% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Tesla (NASDAQ:TSLA) and SpaceX (NASDAQ:SPCX) are making progress in merger talks and could announce a deal as early as December, Bloomberg reported Thursday. The two companies have a combined market value of roughly $3.4 trillion. For Tesla shareholders, the figure that matters most is how many SpaceX shares they could receive for each Tesla share.
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Reuters put SpaceX's market capitalization at about $1.9 trillion and Tesla's at about $1.55 trillion. Those figures give a sense of the potential merger's scale. Negotiators are still working through ownership and governance, and Bloomberg reported that an announcement could slip into early 2027.
Elon Musk, who leads both companies, confirmed in October that each board had formed a special committee of independent directors to examine a combination. A merger would bring Tesla's electric vehicles, energy storage and robotics operations together with SpaceX's rocket launches and Starlink satellite internet business.
The companies already work together on Terafab, a chipmaking venture that Musk says could produce its first test chip around May or June 2027. The proposed merger also raises national security questions because SpaceX holds U.S. defense contracts and Tesla has significant manufacturing operations in China.
Tesla's Dec. 3 annual meeting is an early opportunity for investors to hear management address the talks. The published agenda contains no merger vote.
If the companies announce an agreement, the share exchange ratio will determine the value offered to Tesla holders and their ownership of the combined business. Board composition and the independent committees' valuation rationale will help shareholders assess how the deal allocates value between the two companies. Any conditions tied to SpaceX's defense contracts could also affect the closing timeline or force changes to the deal's structure.
