● TESLA, SPACEX BOARDS WEIGH MERGER

Tesla ($TSLA) and SpaceX ($SPCX) have each formed special committees of independent directors to study a potential merger, Elon Musk confirmed, the first formal step after months of speculation. The news came alongside SpaceX third-quarter results, where revenue jumped 161% to $14.58 billion, beating Wall Street estimates. A combined company would be worth roughly $3.5 trillion at current prices, but Musk cautioned that any deal needs support from a majority of all outstanding shares, calling that quite a high hurdle.