Sunday , 23 October 2016
Breaking News

Apple Possibly in Talks To Buy Supercar Maker McLaren

Apple is reportedly in talks to buy the McLaren supercar maker and Formula One team owner in a deal worth up to £1.5bn. A deal between Apple and the British company would dramatically shake up the technology and automotive industries.

The California-based company?EU?s interest in McLaren Technology Group highlights its ambition to develop technology that could be use in an electric and driverless car.

Apple has approached McLaren about a takeover but could also make a strategic investment in the company, according to the Financial Times, which first reported the story.

However, McLaren said it was not in talks with Apple about a deal. ?EU?We can confirm that McLaren is not in discussion with Apple in respect of any potential investment,?EU? the company said.

McLaren builds supercars such as the P1, which costs about £866,000, and also develops technology for the healthcare, energy and transport industries.

The company controls the McLaren Formula One team, which is one of the most successful in the history of the sport despite struggling in recent seasons.

McLaren is controlled by Ron Dennis and the Bahrain sovereign wealth fund. Dennis, who ran the Formula One team before expanding the business into other areas, would be in line for a multimillion-pound windfall if a deal with Apple goes through.

The company is based in Woking, Surrey, in headquarters designed by Norman Foster.

Apple said it ?EU?does not comment on rumours or speculation?EU?.

The US firm rarely makes acquisitions, and a takeover of McLaren would be its biggest deal since it bought the Beats headphone brand for

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