SpaceX and Tesla form committees to study a merger

What BBN said about it

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   Hank Ledger · Lead AnchorWelcome back. Good evening again, and on this Tuesday, October twentieth, tonight's headlines. SpaceX and Tesla weigh a merger. Kate wears Diana's tiara.

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   Hank Ledger · Lead AnchorAnd a twist in the Omar investigation.

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   Hank Ledger · Lead AnchorOur lead story.

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   Hank Ledger · Lead AnchorSpaceX and Tesla have formed special committees to discuss a possible merger, and Elon Musk, who runs both, says he thinks it's a good idea.

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   Hank Ledger · Lead AnchorGloria Vance has the details. Gloria.

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   Gloria Vance · World News AnchorThank you, Hank. Musk made the announcement Tuesday on SpaceX's earnings call, Axios reports. The two companies already work together on chips and artificial intelligence.

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   Gloria Vance · World News AnchorTesla bought roughly two billion dollars of SpaceX shares in March, and they are jointly building a chip plant in Texas called Terafab.

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   Gloria Vance · World News AnchorMusk described the committees as an odd kabuki dance, where two groups talk and he cannot be in the conversation, Investing.com reports.

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   Hank Ledger · Lead AnchorHe can't be in the conversation.

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    Gloria Vance · World News AnchorCorrect. He leads both companies, so the two sides are negotiating over a man who has been asked to wait in the hall.

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    Gloria Vance · World News AnchorHe also said half of all outstanding Tesla shares must support any deal, which he called a high hurdle, Axios reports.

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    Chip Darnell · U.S. News AnchorA merger! Two big companies becoming one big company! That's a neighborhood coming together, Gloria.

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    Gloria Vance · World News AnchorChip, it is one man agreeing with himself across two boardrooms. But your enthusiasm is noted.

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    Chip Darnell · U.S. News AnchorNoted! I'll take it.

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    Gloria Vance · World News AnchorAnalyst Gene Munster told Axios he puts the chance of a deal within two years at ninety-five percent. Gloria Vance, BBN News, New York.

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    Hank Ledger · Lead AnchorThanks, Gloria. Story two. Chip Darnell has it.