SpaceX, Tesla merger talks progress, Bloomberg News reports

JUST IN: SpaceX and Tesla are in progressing merger talks, Bloomberg reports. $TSLA

Elon Musk might be about to merge his rocket company with his car company. Bloomberg reports SpaceX and Tesla are in merger talks, and that those talks are progressing. Not exploratory, not a trial balloon, progressing.

Think about what that combination actually is. Tesla is public, SpaceX is private, and bolting them together would hand public shareholders a piece of Starlink and Starship for the first time ever. You can see why Tesla bulls have dreamed about this for years, and you can see him here, Musk has never exactly hidden the ambition.

The hard part is the price. Somebody has to decide what SpaceX is worth, and Musk sits on both sides of that table, which is precisely the kind of deal that gets lawyers out of bed early. Tesla's board has been sued over less.

If this closes, it would be one of the largest corporate combinations in history, built around one man. That's the whole story, and that's the risk.

This is Sara White, reporting for HIT.