Piper Sandler Calls a Tesla–SpaceX Merger Proposal 'Likelier Than Not'
Piper Sandler analyst Alexander Potter now thinks a Tesla–SpaceX merger proposal is «likelier than not». In most of the scenarios he modelled, Elon Musk would keep more than 70% voting control of the combined company. Potter also warns that a 30% deal premium wouldn't mean 30% upside for shareholders.
By the Tesla News Wire staff · Edited by Seamus McKenna · · 2 min read
Piper Sandler has modelled how markets might react to an all-stock Tesla–SpaceX merger. Investing.com summarised the client note on Nov. 2.
Key points from the note
Analyst Alexander Potter now calls a merger proposal «likelier than not».
In most scenarios, Musk would have more than 70% voting control of the combined company.
A 30% premium wouldn't translate into 30% upside. In many of Piper's scenarios, the shares reprice by less than 15% either way.
Piper rates Tesla Overweight and SpaceX Neutral.
Background
Client interest grew after Musk confirmed on Oct. 20 that both companies had formed special committees. Neither company has announced a deal, a structure or an exchange ratio.
This summarises an analyst note and is not investment advice.
For information only, not investment advice. Price targets and estimates are attributed to the named firms and data providers.
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