William Maley

McLaren News: (UPDATED) Rumorpile: Apple Considers A Takeover of McLaren

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William Maley    391

Update: In a statement to Mashable, a McLaren spokesperson said "We can confirm McLaren is not in discussion with Apple in respect of any potential investment," So those hoping for an Apple 570S or something else, we're going to be bursting that bubble now. 

Update 2: Tim Bradshaw, one of the reporters behind the Apple/McLaren story has gone on Twitter saying the FT stands behind its original report. 

Apple has eyes set on acquiring the McLaren Technology Group - the folks who brought us the F1 supercar and more recently the 570S. The Financial Times reports that Apple and McLaren have been in talks for the past few months about either a full takeover or strategic investment. Why is Apple interested in McLaren? The FT says Apple is interested in McLaren's technology and knowledge of using light-weight materials such as carbon fiber and aluminum. The deal if it goes through is likely to be valued between $1.3 billion and $1.95 billion.

For the past few years, rumors have been swirling around of Apple building their own self-driving electric vehicle. Apple brought in engineers from various automotive companies such as Diamler and Tesla, and began work on Project Titan two years ago. But the New York Times reports that Apple has hit a few snags in this project and has decided to reset the project. Dozens of employees were laid-off and parts of the project were shuttered. The report goes on to say the Apple is now focusing on building the underlying technology for an autonomous vehicle.

Sources tell the FT that the deal might not go through because of the change in strategy.

Apple declined to comment when asked by Roadshow. McLaren hasn't issued a comment at this time. See Update.

Source: Financial Times (Subscription Required), Bloomberg, New York Times, Roadshow


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dfelt    1,767

Welcome Apple to the world of auto's. It is not as easy as you have had with phones, computers, etc. in building an EV auto or self driving auto.

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Drew Dowdell    4,980

Financial Times says yes. McLaren says no. Apple has no comment.

 

Sounds like a shotgun wedding..... Apply could buy McLaren with the change in its sofa cushions.

For some perspective.... Apple has enough cash on hand to buy McLaren, Tesla, FCA, Ford, and GM in full... and still have enough left over to buy American Airlines and Delta outright....... 

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dfelt    1,767

Interesting that with Apple having over 200 billion plus in cash, the bulk of it outside the US and with a debt of 60 billion and taking into account cost to run business and paying taxes if or when they have to bring that cash back to the US. This leaves Apple with about 100 billion to spend.

Still allot of money on hand. Plus way more money than most countries.

Some interesting info on this at the following two web sites:

Forbes

http://www.forbes.com/sites/chuckjones/2015/07/31/apple-has-less-cash-than-people-believe/#723ba6da280c

Telegraph.co.uk

http://www.telegraph.co.uk/finance/businesslatestnews/10760392/Apple-and-Microsoft-have-bigger-cash-holdings-than-UK.html

So this makes me think that this is now a hostile buyout by Apple who is struggling to find proper investments for their excess cash.

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ccap41    1,161
1 hour ago, Drew Dowdell said:

Financial Times says yes. McLaren says no. Apple has no comment.

 

Sounds like a shotgun wedding..... Apply could buy McLaren with the change in its sofa cushions.

For some perspective.... Apple has enough cash on hand to buy McLaren, Tesla, FCA, Ford, and GM in full... and still have enough left over to buy American Airlines and Delta outright....... 

That's a lot of coin to be carrying around.. Might as well invest it!

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Drew Dowdell    4,980
1 hour ago, dfelt said:

Interesting that with Apple having over 200 billion plus in cash, the bulk of it outside the US and with a debt of 60 billion and taking into account cost to run business and paying taxes if or when they have to bring that cash back to the US. This leaves Apple with about 100 billion to spend.

Still allot of money on hand. Plus way more money than most countries.

Some interesting info on this at the following two web sites:

Forbes

http://www.forbes.com/sites/chuckjones/2015/07/31/apple-has-less-cash-than-people-believe/#723ba6da280c

Telegraph.co.uk

http://www.telegraph.co.uk/finance/businesslatestnews/10760392/Apple-and-Microsoft-have-bigger-cash-holdings-than-UK.html

So this makes me think that this is now a hostile buyout by Apple who is struggling to find proper investments for their excess cash.

Securities that can be liquidated tomorrow are virtually as good as cash in this case... so yes... while it isn't a pile a greenbacks sitting on Tim Cook's desk, it is simply a call to the broker's office.

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smk4565    321

Good point by Drew.  My first thought when I read this story was why McLaren? If Apple wanted to get into the car business they could buy anybody why not buy Mazda or a mid size company.  Apple is worth over $600 billion, compared to Ford or GM worth about $45 billion. 

I still think Apple is better off building vehicle infotainment systems that have updatable software and liscensing it to car companies.

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dfelt    1,767

Maybe Apple should buy Mercedes-Benz so you have the best phones with the best cars and then MB can change to be called

i-Benz

They can just come with Apple play and force everyone else to follow Apples lead. ;)

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Drew Dowdell    4,980
56 minutes ago, smk4565 said:

Good point by Drew.  My first thought when I read this story was why McLaren? If Apple wanted to get into the car business they could buy anybody why not buy Mazda or a mid size company.  Apple is worth over $600 billion, compared to Ford or GM worth about $45 billion. 

I still think Apple is better off building vehicle infotainment systems that have updatable software and liscensing it to car companies.

Apple is very image conscious. If they bought anyone, they'd buy Tesla.

Google doesn't care about image as long a the tech is there. They'd buy FCA if they thought they could squeeze some worthwhile money out of them.

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regfootball    234

i am sure Apple could buy FCA but like Drew says, image, why would Apple buy FCA as they are swirling the toilet.

An Apple acq of Tesla would be BANG! but for the ELON MUSK factor.  Then would ELON MUCK be in charge of Apple?

I love me some Apple stuff but i really don't want them muddling into cars.

Prob inevtiable but still.  Fix the fricking Apple CarPlay first....remind me tell ya how buggy that is.  I'm gonna kill that Siri _____

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smk4565    321
2 hours ago, Drew Dowdell said:

Apple is very image conscious. If they bought anyone, they'd buy Tesla.

Google doesn't care about image as long a the tech is there. They'd buy FCA if they thought they could squeeze some worthwhile money out of them.

I would agree that Tesla makes the most sense, but if they really wanted a car company and wanted something more mass market, a Subaru or Mazda makes sense.  Those companies have more production capacity and would be cheaper to buy.

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