CNBC
• Michael Bloom
Elon Musk said SpaceX and Tesla have formed special committees to examine a possible combination, an early step toward a deal that could rank among the largest corporate mergers ever. The announcement came as SpaceX reported a strong third quarter, with profit beating estimates amid sharply higher AI business revenue.
M&A
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Helsing is in advanced talks to invest in Destinus at a valuation of about €6 billion ($6.7 billion), according to people familiar with the matter. The proposed deal would bring two of Europe’s prominent drone makers closer, though its terms and strategic implications have not been disclosed.
Iridium Communications reported an 8% increase in total revenue and a 13% rise in service revenue for the three months ended Sept. 30. The acquisition of Aireon, which provides aircraft tracking and flight data services, figured heavily in the results.
Speaking after recent acquisitions, leaders at Solairus and Flexjet argue that people and organizational culture will matter more than company size in shaping business aviation. Their comments put the focus on how operators integrate growth while maintaining the workforce and culture they see as central to the business.
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Elon Musk said SpaceX and Tesla have formed special committees to examine a possible combination, an early step toward a deal that could rank among the largest corporate mergers ever. The announcement came as SpaceX reported a strong third quarter, with profit beating estimates amid sharply higher AI business revenue.
WCC Aviation Holdings has signed a deal to acquire a 30% stake in PhilJets, a move the companies say will enhance opportunities in Philippine aviation services. The reported transaction signals a new ownership link between the two companies, but the available details do not specify its value or terms.
The California-based charter provider has acquired International Jet, a Colorado-based operator, further extending STA Jets’ network across the United States. The deal adds a second regional operator to the cluster’s coverage, though the available report provides no financial terms or details on fleet and operational integration.
Five parties are set to file binding proposals for Azores Airlines, advancing the process around the carrier’s future ownership. The available report does not identify the bidders, the terms they may offer or the expected timing of a decision.
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