Barclays: News of a Tesla-SpaceX merger could be announced before the annual shareholder meeting.

Barclays analysts said market participants now widely expect Tesla to merge with SpaceX, and the news could be announced before Tesla's annual shareholder meeting. Analysts including Dan Levy expect the 2026 annual shareholder meeting to be held no later than December 6. Levy added that the rationale for the merger would be to achieve vertical integration and to accelerate AI development opportunities across Elon Musk's two companies. "While the announcement of a Tesla/SpaceX merger could be delayed until late October, or even possibly early November, we believe it may become increasingly difficult to get the merger approved at the annual shareholder meeting by then."