How would a merger between Tesla, Inc. (TSLA.US) and SpaceX (SPCX.US) be priced? Is $500 the key price to persuade shareholders?

LumaSenti Managing Partner Larry Goldberg said Tesla, Inc. (TSLA.US) shareholders could benefit from a merger with SpaceX (SPCX.US) without requiring a premium, while proposing $500 per share as a number that could potentially persuade investors to support the deal. Tesla, Inc. rose 4% on Tuesday to close at $407.46; SpaceX rose 1% to $148.58. Goldberg: $500 compromise price could facilitate merger "I don't think there's any reason to pay a premium. But if that's the price to satisfy these very angry shareholders, well, then pay it." Goldberg said in an interview with Tesla, Inc. influencer Herbert Ong. When asked what could win investor support, he said: "I think the number that would get you to loosen up is $500." Goldberg's top priority is completing the merger rather than insisting on a specific price. "Again, it makes no difference to me. I just want to get it done," he said. Goldberg said investors should consider both the value of the shares they will receive and the price corresponding to their Tesla, Inc. holdings. "The lower the premium, the higher the value of the SpaceX shares you receive in the exchange," he said. "So you're too focused on the Tesla, Inc. share price and not thinking about the SpaceX shares you'll receive and their future, because that's your future." His argument is partly based on timing. He believes SpaceX's opportunity is nearer, while Tesla, Inc.'s long-term potential carries greater uncertainty. "So while Tesla, Inc. may be worth more than SpaceX over time, SpaceX's opportunity is today. So why not combine today's value with tomorrow's value?" he said. Goldberg also said combining the two companies' assets and cash flows could help finance the expansion of computing infrastructure, which he estimates would require $500 billion to $1 trillion depending on scale. Goldberg pushes back against Tesla, Inc. shareholders Goldberg said his position has met fierce opposition from Tesla, Inc. investors focused on the current value of their shares and expectations of higher future prices. "I mean, merging these companies is in everyone's interest and gives fair value. Yet they can't see it, so they'll vote against it," he said. Goldberg believes retail investors are overlooking the long-term value of the deal. He also denied claims that his position reflects his holding more SpaceX shares. "Everyone says I hold more SpaceX than Tesla, Inc. Well, they don't know, and they're wrong," he said, without detailing his holdings. "But in my view, the sooner this happens, the better." The price that would win TSLA, SPCX shareholder approval Other investors see reason to pay a higher price. Altimeter Capital founder Brad Gerstner suggested a Tesla, Inc. valuation range of $420 to $550, adding that a premium of more than 30% could help its special committee withstand potential litigation. Separately, ARK's latest model predicts that a no-premium share exchange would benefit both shareholder groups. Splitting the additional upside evenly implies a 24% premium to Tesla, Inc.'s October 23 closing price. Tesla, Inc.'s quarterly filing confirmed that a special committee is exploring a deeper relationship with SpaceX, possibly including a business combination. Musk said the two companies' independent committees have not yet agreed on terms, and that he has been excluded from discussions due to conflicts of interest. He also said Tesla, Inc. needs approval from 50% of all shares. On Stocktwits, retail sentiment for both TSLA and SPCX is "bearish," with TSLA message volume "high" and SPCX "normal." One user said: "$SPCX fell after merger valuation with TSLA. Tesla, Inc. will benefit, while SPCX will be diluted." Another user said: "I think $TSLA if the merger happens, $500 at the low end, $600 at the high end. Just my thoughts. Breaking through 420 is key, 460 could be the next resistance level." TSLA shares are down 9% year to date, while SPCX is down 8% over the same period.