Elon Musk’s SpaceX-Tesla merger math doesn’t add up

There’s a problem with the proposed merger of Elon Musk’s SpaceX and Tesla, Fortune’s Shawn Tully writes . The addition to SpaceX’s GAAP profits per share would be minuscule. SpaceX’s bottom line is growing, and Tesla’s is dropping. And thus the deal would prove extremely dilutive for the Starlink provider. Right now, Tesla’s market cap is $1.52 trillion; tack on a 30% acquisition premium and SpaceX would be out $1.98 trillion. SpaceX’s valuation stands at $2.14 trillion. We’re looking at almost a merger of equals.

Source: Fortune Crypto