NDTV reports Tesla‑SpaceX merger hint

SpaceX’s amended IPO filing has revived talk of a future merger with Tesla, but the available reporting points more to governance mechanics than to an announced deal. NDTV reported on June 2 that new language in the filing said SpaceX could issue “significant equity” in future transactions, a line the outlet said had fueled speculation about a combination with Tesla. NDTV also said a transaction of that size would likely require a Tesla shareholder vote and face legal and regulatory hurdles. (ndtv.com) The filing language matters because it appeared in the risk-factor section of SpaceX’s first amendment to its IPO paperwork. (ndtv.com) NDTV, citing TechCrunch’s reading of the amendment, said the sentence warned investors that SpaceX “may issue a significant amount of equity in connection with future transactions.” That is not a merger announcement. It is disclosure language that investors would read as preserving flexibility for acquisitions, mergers or other stock-based deals after the listing. ### What, exactly, did the amended filing say? (ndtv.com) NDTV reported that SpaceX added a sentence stating it “may issue a significant amount of equity in connection with future transactions.” The outlet said that line was appended to a risk factor on mergers and acquisitions in the company’s amended IPO filing. NDTV said the wording prompted speculation that a large post-IPO stock transaction could include Tesla, though it also noted SpaceX could have had other companies in mind. The same NDTV report said Elon Musk has discussed combining his companies for years, and cited prior CNBC reporting that Musk had held discussions with colleagues about a possible merger. (ndtv.com) NDTV also cited a current Tesla employee as telling CNBC that workers at the electric-vehicle maker had long expected such a move might eventually happen. ### Why would Tesla shareholders matter if Musk controls SpaceX? NDTV reported that a merger of this size would probably have to pass a shareholder vote at Tesla. That reflects the structure of a public-company merger in which Tesla investors could be asked to approve issuing stock or completing a transformational transaction. (ndtv.com) NDTV did not cite a formal Tesla board proposal or a filed merger agreement. Tesla’s own preliminary proxy materials filed in 2025 describe a governance framework in Texas that, in the company’s words, enables boards to act “in accordance with the will of shareholders,” though the filing does not discuss any SpaceX transaction. (ndtv.com) The absence of a merger filing, board recommendation or proxy proposal means the current reporting is about what approvals would likely be needed if a deal were pursued. ### How much control does Musk have on the SpaceX side? NDTV reported that Musk has “supreme voting power” at SpaceX because he holds Class B shares with 10 votes each, while Class A shares have one vote and Class C common stock has no voting rights. (ndtv.com) Reuters, in a separate May 6 report carried by NDTV, said SpaceX’s IPO registration statement gives Musk majority voting power and sole authority to remove himself as chief executive and chairman. Reuters also reported that SpaceX’s governance provisions limit investors’ ability to challenge management, sue in court and force votes on governance issues. (ir.tesla.com) Ann Lipton, a professor at the University of Colorado Law School, told Reuters that the company’s market weight could still make it hard for portfolio managers to avoid buying the stock. ### What else is being folded into the merger chatter? Memeburn reported on June 2 that a merged Tesla-SpaceX company would hold 30,221 bitcoin worth roughly $3.3 billion, based on Tesla’s reported 11,509 BTC and SpaceX’s disclosed 18,712 BTC. (ndtv.com) Memeburn said SpaceX disclosed that bitcoin position in its IPO filing and said the combined entity would rank among the world’s largest public corporate bitcoin holders. That crypto angle is separate from whether a merger is actually proposed. The harder facts in the public reporting are the amended SpaceX risk disclosure, Musk’s voting control at SpaceX, and the likelihood that Tesla shareholders would need to approve any large stock-for-stock combination. (ndtv.com) ### When would investors get a clearer answer? NDTV reported that SpaceX could begin marketing its IPO on June 4 and price the shares on June 11. If SpaceX files further amendments, or if Tesla later submits a merger agreement or proxy materials to the Securities and Exchange Commission, those documents would be the next formal place for investors to look for details on any proposed transaction. (memeburn.com) (ndtv.com)