Elon Musk's OWN public praise for a $3.5 trillion SpaceX-Tesla merger creates a 'mess' that could delay talks, insiders fear
Elon Musk, who admits he is a 'conflicted party' unable to sit in on merger talks now being run by special committees at both SpaceX and Tesla.
Those close to the talks worry that Musk's public remarks will draw shareholder scrutiny and push the timeline back by several weeks. They are drawing comparisons with Tesla's 2016 SolarCity deal, which led to lengthy legal disputes over Musk's behaviour. Advisers have been brought in, though the conversations remain at an early stage. The approach came from SpaceX, and the options being explored include SpaceX acquiring Tesla outright or forming a new holding company.
Musk on the earnings call: 'I feel like I'm tap-dancing through a minefield.'
Tesla's third-quarter net profit dropped to $787 million, compared with $1.4 billion previously.
Musk has revised Tesla's annual sales target down to 5 million cars from 20 million.
