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McLaren denies Apple buyout talks

McLaren has played down reports of Apple looking to heavily invest or buyout the company after news speculated negotiations were imminent.
McLaren has played down reports of Apple looking to heavily invest or buyout the company after news speculated negotiations were imminent.

Yesterday, reports published in the Financial Times newspaper stated Apple's intention to step into the automotive industry with the British supercar maker and Formula 1 team which could see a takeover or financial investment.

A statement from McLaren has duly watered down the news: “We can confirm that McLaren is not in discussion with Apple in respect of any potential investment," a spokesman said to the BBC.

McLaren did also stress it is continually in conversations with a 'wide range of parties' but these talks remain confidential.

In 2015, McLaren changed its registered name from McLaren Group to McLaren Technology Group to bring it into line with its diversifying involvements as Ron Dennis was named as Chairman and Chief Executive Officer.

Apple has been developing a self-driving electric car but it is not clear whether the linked takeover would include any McLaren involvement in that particular project.

READ: Alonso always trusted McLaren but had too much hope in 2015

McLaren's car department has recently launched the 12C (2011) and the P1 sports car (2013) with former McLaren Racing CEO Jonathan Neale the new COO having been appointed earlier this year.

McLaren currently sits sixth in the F1 world constructors' championship and has scored 54 points in the opening 15 races of the season.

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Tagged as: Mclaren , Formula 1

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JuJitsoup

September 22, 2016 9:26 AM
Last Edited 2 days ago

To some degree I can understand why Apple and McLaren might want to work together but it will be so disappointing if another foreign owner takes over a UK company. The list is becoming endless. What message does this send out about the UK to the rest of the world? It also again illustrates Apple's total reliance on hoovering up high-tech companies to steal they're tech and bolster their ranks rather than creating something themselves. The ghost of Steve Job's business ethos lives on. Apple fanboys rejoice. The rest of us can shift our allegiance, a lot easier now Jenson's not driving next year.



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