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# A SpaceX takeover of Tesla gets dearer every time SpaceX shares fall
- URL: https://www.sharespective.com/stories/spacex-takeover-tesla-gets-dearer-every-2026-11-14/
- Published: 2026-11-13T22:15:00.000Z
- Updated: 2026-11-14T02:50:48.000Z
- Description: Bloomberg reported on Friday that SpaceX and Tesla could announce a merger as soon as December, with a slip into early 2027 also on the table. Special committees of independent directors are running the talks, and the open items are price and control.
- Author: Shaun Botha
- Tags: Deals, #story, #group-deals, SpaceX, Tesla

Bloomberg reported on Friday that SpaceX and Tesla could announce a merger as soon as December, with a slip into early 2027 also on the table. Special committees of independent directors are running the talks, and the open items are price and control.

**The arithmetic has moved against SpaceX all month.** Its shares closed at US$139.11 on Friday, 12.7% below where they sat on 21 October, when Elon Musk first said both boards were looking at a deal. Tesla closed at US$390.22 and is almost exactly where it was that day.

That gap decides who ends up owning what. At SpaceX's June price of about US$200, buying Tesla at a 15% premium would have taken roughly 2.3 SpaceX shares for each Tesla share. Near US$140 it takes about 3.2, so SpaceX issues around 40% more stock for the same company.

[![Chart: SpaceX slides, and buying Tesla gets dearer. SpaceX's and Tesla's share prices, each set to 100 at the close on 21 October, daily to 13 November. SpaceX fell from US$159.31 to US$139.11.](https://storage.ghost.io/c/02/71/0271df32-cec6-421f-9f13-b06ab90e54c1/content/images/2026/11/chart-spacex-tesla-prices-set-2026-11-14-wide-light.jpg)](https://www.sharespective.com/chart-spacex-tesla-prices-set-2026-11-14/) 

This story’s chart of the day: the numbers, the dark version and the animated version are on its own page. [The chart’s page →](https://www.sharespective.com/chart-spacex-tesla-prices-set-2026-11-14/)

Tesla holders would then own more than half the combined business, against about 43% at the higher price. Joel Shulman of ERShares says his greatest concern is the price SpaceX would have to pay. Nathan Johnson, Texas's incoming attorney general, says a merger of that consequence warrants tremendous scrutiny.

The sticking point 

the committees are settling an exchange ratio that moves every session, and the cheaper SpaceX gets the more of itself it hands over. Polymarket puts an announcement by the end of June 2027 at 54%. I'd watch how Tesla's China business gets walled off, because nobody has an answer to that one yet.

[ This story ran in The Chip Trade Unwinds Saturday 14 November’s edition, with the market snapshot, the other two stories, the numbers and the week ahead. Read the whole edition → ](https://www.sharespective.com/sharespective-2026-11-14/)