Analysts sketch out what a Tesla-SpaceX merger could look like
TSLA•RBC estimates a SpaceX acquisition of Tesla could value Tesla at $480 per share and the combined company at about $3.74 trillion. Barclays sees possible announcement timing ranging from Tesla’s December 3, 2026 annual meeting to within the next 6 to 12 months.
1. Analysts weigh merger scenarios
RBC and Barclays analysts outlined what a potential merger between Tesla and SpaceX could look like as speculation about a deal grew ahead of the companies’ quarterly earnings updates. RBC said operational synergies could support a combined company. The results will test whether Starlink growth and Tesla car profits can fund AI spending, the article said.
2. Valuation and timing
RBC estimates that if SpaceX acquired Tesla, the deal could value Tesla at $480 per share, with the combined company valued at about $3.74 trillion. Barclays also expects SpaceX to be the acquirer, citing its dual-class share structure and the voting power it could give Elon Musk. Barclays said an announcement could come at Tesla’s December 3, 2026 annual meeting or within the next 6 to 12 months; it also said a deal could wait until SpaceX share lockups pass, with some shares locked up until at least December 13. Shareholder votes would likely be required at both companies.
