By Arthus Marande, Nehir Yanmaz, and Christopher Putnis (ESCP); Aman Prasad, Oliver Greenhalgh and Jiaqi Tang (University of Birmingham) Photo: SpaceX (Unsplash) Overview of the deal Acquirer:  SpaceX Target:  xAI Implied Equity Value : $250B (target evaluation)/ $1.25T (combined entity valuation) Closing Date:  2nd Feb Target Advisor:  Sullivan & Cromwell LLP Acquirer Advisor:  Gibson, Dunn and Crutcher LLP SpaceX’s acquisition of xAI represents a seminal moment in corporate