I thought the same but Iβm beginning to think itβll be proposed as a merger of equals. This would clean/simple and still gives Elon >50% voting control of the combined entity, which is what he cares most about.
His current challenge is pumping SPCX so that the valuation at the time of announcement is compelling enough to Tesla shareholders. He canβt risk a no vote.
Of course, I could be completely wrong π