According to the newspaper the Financial Times, technology giant, Apple, have been linked to a takeover of the McLaren Technology Group.
Apple Linked to McLaren Takeover
In the story published by the Financial Times, it is claimed that Apple have approached the McLaren Technology Group and that negotiations have been initiated that could result in an investment from Apple into McLaren or a full takeover.
The McLaren technology Group includes McLaren Automotive, McLaren Applied Technologies, and the McLaren Formula 1 Team.
For some years, Apple have been working on self-driving cars, trying to evolve the automotive industry in the same way that they revolutionized the telephone market. This reported takeover or investment from Apple could be linked to this aim, with the phone company merging with an automotive company to gain market access.
The Financial Times have reported that the value of the McLaren Technology Group is about £1 billion to £1.5 billion, with McLaren Automotive gaining revenues of £450 million last year.
Despite this report, McLaren have denied that they are in talks with Apple, with a spokesman stating:
“We can confirm that McLaren is not in discussion with Apple in respect of any potential investment”
“As you would expect, the nature of our brand means we regularly have confidential conversations with a wide range of parties, but we keep them confidential.”
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