Tesla and SpaceX form committees to discuss possible merger

Tesla and SpaceX have set up special committees to consider a possible merger, Elon Musk said during a call on SpaceX's quarterly results.

Musk backed combining the companies but said the committees had yet to agree on terms. He cautioned that they might never reach an agreement.

He said a merger could bring substantial benefits. Any transaction would require shareholder support.

SpaceX reported third-quarter revenue of $14.6 billion, up 161% from a year earlier.