Apple wants to buy Tesla
News came couple of days ago, however since last year we hear the rumours, not mention the attempt which took place in 2013. What and who? Apple tried to buy Tesla!
At least according to an analyst who insists his sources are solid :).
What stopped it from happening, according to Craig Irwin of Roth Capital Partners, who first was interviewed on CNBC's Squawk Box and later followed up with the network via email, was that
"Apple wanted Elon Musk to step away, and that was a deal killer."
Earlier, Irwin had cited the attempted Apple acquisition, which he said happened in
as an explanation for why he's bullish on Tesla now.
Irwin said he figures that if Apple was willing to buy in 2013, it would probably be willing to do so now, too, even though Musk told his company's employees in an email last week that Tesla only has enough cash left to last another 10 months.
Here's how Irwin described the reported deal attempt six years ago:
Around 2013, there was a serious bid from Apple at around $240 a share. This is something we did multiple checks on. I have complete confidence that this is accurate. Apple bid for Tesla. I don't know if it got to a formal paperwork stage, but I know from multiple different sources that this was very credible.
Apple or Tesla, didn't comment on the news so far.
Let's remember It's not the first ever report about Apple being interested in Tesla.
Last week, Musk reportedly emailed every single employee at Tesla to warn of "hardcore" cost-cutting. Even with $2.2 billion on hand, he said, that's only enough for Tesla to keep going another 10 months.
Musk's cost-cutting solution: He said he and the chief financial officer will be personally reviewing all expenses within the company-- "no matter how small."
Let's just say it, that's ...challenging: The CEO and CFO of a 45,000-employee company say they plan to sign off, page by page, on
"all expenses of any kind anywhere in the world, including parts, salary, travel expenses, rent, literally every payment that leaves our bank account."
As a huge fan of Tesla, I truly believe and hope that Elon and the team will find the way to save the company since there is no doubts that technology IS the future and electric cars will soon replace traditional ones. I am sure that there is much longer time in front of Tesla than 10 months.
Contributed | This content is contributed or sourced from third parties but has been subject to FTHours editorial review. Source and details: INC