Apple Wanted To Buy Tesla And Fire Elon Musk In 2013

By
Apple Tim Cook watch
Apple CEO Tim Cook speaks about iWatch during Apple's Worldwide Developer Conference (WWDC) at the San Jose Convention Centerin San Jose, California on Monday, June 04, 2018. 


Tesla shares are down 38% year-to-date. Tesla’s stock stood at $310 on Jan. 2 and $205 as of Tuesday. The stock has plunged 46% from its high in August 2018 when CEO Elon Musk earned the ire of the U.S. Securities and Exchange Commission (SEC) by saying he had “funding secured” to take the company private at $420 a share.

Back in January 2018 when Tesla had a market cap of $58 billion, rumors swirled Tesla was a prime target for a takeover by Apple. At the time, Tesla became a takeover target because its valuation had shrunk, which is the exact same situation it’s in today.

it’s long been known Apple Inc. once wanted to buy Tesla Inc. to give it a leg-up in the race to deploy fleets of self-driving cars. That plan didn’t pan out and Apple has since been the laggard among tech firms committed to this inevitable future mode of travel.

Now, however, we know what Apple would have done with Tesla founder Elon Musk if that deal had fallen through. Apple would have fired him.

New revelations indicate Apple failed to acquire Tesla back in 2013 because Musk wouldn’t step down as chairman and CEO of the firm.

“Regarding the acquisition, my understanding is Apple wanted Elon Musk to step away, and that was a deal killer,” said Craig Irwin, an analyst at Roth Capital Partners, according to CNBC.

Musk is said to have met with Adrian Perica, Apple’s head of mergers and acquisitions, and most likely CEO Tim Cook about the proposed acquisition.

Analysts at the time noted that for a deal to take place, Apple would have to decide what to do with the outspoken and mercurial Musk and his penchant for seizing attention for many of the wrong reasons. Musk isn’t anything at all like Cook, to put it mildly.

Despite its hefty stock price in 2013, Tesla remained a prime target for Apple, claims Irwin.

“Around 2013, there was a serious bid from Apple at around $240 a share,” said Irwin.

“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.”

Tesla’s steadily weakening stock price today is again bringing it under closer scrutiny by Apple, claims Irwin.

“If Apple had interest then, they would probably have interest now at the right price,” he said.
 
 
 

Comments

Post a Comment

Popular posts from this blog

Prostitution; Nigerian Women At Growing Risk From Human Traffickers In Germany.

By
Image
According to InfoMigrants, Nigerian women are at growing risk from traffickers in Germany who exploit and engage them in prostitution. Read the full report below by InfoMigrants. The new prostitute protection law in Germany was meant to identify victims of human trafficking – most of them migrant women. More than 18 months after the law came into effect, thousands continue to be targeted for exploitation, and the risk for Nigerian women seems to be increasing. There are campervans parked by the roadside. Some have hearts painted on them, one says “girls, girls” in red letters. It’s an easy matter for someone to stop for a quick transaction in one of these Love-Mobiles – sex with one of the “girls” in exchange for the going rate. Prostitution is mainly legal in Germany, as are these mobile brothels. But many of the women in the business – including those working from the Love-Mobiles – are victims of illegal human trafficking. Most of the women are from Eastern Europe or Nige
Read more

FULL TEXT: A sacrifice for our new political order – Ezekwesili

By
Image
“When the ACPN leadership approached me in a series of visits to appeal that I run for office on their platform, the party appeared to be a good fit. It was founded by some disgruntled PDP members some years ago, but when its prime founder decided to return to the PDP, a core of its membership refused to move back with him. I was told that they stayed back because of their opposition to the ways of the PDP. Considering my vocal disapproval of the PDP and the APC, I admired the ACPN’s decision to stand firm and refusal to be co-opted.” It has been an interesting one week since I made the tough but necessary decision to suspend my campaign for the presidency. I have been truly overwhelmed by the reactions to my announcement from Nigerians. Even in airports outside the country as I travelled last week, Nigerians walked up to me with questions, concerns, encouragement, and motivation. I also saw disappointment by some who had poured their hearts and hopes into actualising our mission
Read more

Update On Slay Queen Who Was Stripped Naked And Tortured Over Missing Phone.

By
Image
The League of Patriotic Lawyers has given Edo State Commissioner of Police, Mr. Olusegun Odumosu, 24 hours to unravel those behind the torture and insertion of pepper into a girl’s private part in Benin City over alleged stealing of a mobile phone.  Chairman of the platform and former Student Union President of the University of Benin, Mr. Abubakar Yesufu, who said this in a statement yesterday, also urged the state Director, Department of State Services, DSS, to be involved in the investigation. A video of the incident, seen by Vanguard yesterday, showed the girl being stripped naked by a group of people, who inserted pepper into her private parts for allegedly stealing a phone. The unidentified girl was heard crying and saying she didn’t steal any phone, while she was being humiliated by the crowd. Yesufu said: “The League of Patriotic Lawyers has given the Edo State Commissioner of Police 24 hours to arrest and commence prosecution of all the street urchins behind this ba
Read more