McLaren confirms it met with Apple, but no bid made

Not that it matters now, since Project Titan has been drastically scaled back, but it turns out that McLaren did talk to Apple after all. In September, it was reported that the technology company was said to be in discussions with McLaren Technology Group over a potential acquisition or the possibility of a strategic investment.

At that point, Apple had no comment on the matter, but McLaren poured water on the subject by issuing a statement saying that it was not in discussions with Apple, though it didn’t clarify if it had indeed been approached.

“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,” it had said then.

Now, it has been revealed that both companies did meet, but no bid or overtures were made, Reuters reports. According to McLaren CEO Mike Flewitt, it was just a friendly visit. “They visited. We talked. We talked about what they did. We talked about what we did. They toured. It never matured to a definitive proposition,” he said.

Flewitt added that there had been a number of bids from other parties, but they were not accepted. Interested parties were said to be eyeing McLaren – which is said to be valued at between £1-£1.5 billion (RM5.5-RM8.25 billion) – for its technology, engineering prowess and patent portfolio. Flewitt indicated that the current shareholders were keen to retain ownership of the company and develop it further.

Looking to sell your car? Sell it with Carro.