Apple To Buy McLaren For £1.5bn? Supercar Maker Denies Acquisition

Apple has been recently linked with a shocking £1.5bn deal to buy the Formula One team owner and supercar maker, McLaren Technology Group. McLaren, however, has thrown water on the rumors, totally denying an acquisition of the company by Apple.

The Financial Times had reported earlier that Apple had approached McLaren about a takeover. Although McLaren denied such talks with Apple, the car manufacturer added that the nature of their business means they have confidential conversations with a wide range of parties. Apple, on the other hand, stated that they do not comment on Rumors.

Today, reporters of the Jalopnik Website spoke with the officials at McLaren, who totally denied any such talks with Apple. "We can totally confirm that McLaren is not in any such discussion with Apple" McLaren's terse, a one-line official statement state. The officials at McLaren further stated that there was zero truth to the acquisition rumor.

However, Tim Bradshaw, one of the reporters of the FT's initial story, stated in a tweet that the paper will stick to its initial report:

Obviously we stand by our story despite McLaren's statement. https://t.co/MalTHATZdM

— Tim Bradshaw (@tim) September 21, 2016

Apple very rarely does any acquisitions and such a takeover of McLaren would definitely be the biggest deal, if such a deal happens, since its acquisition of Beats headphone brand in 2014 for $3bn (£2.3bn). The US-based company has been talked about to have been indulged in the development of a driverless car that has been codenamed Project Titan. In recent months quite a number of workers had left the initiative that leads to the speculation that Apple is currently struggling with its design. McLaren could have been a nice alternative if any such deal was to take place.

The England-based company has been known for its expensive yet high-performance supercars for decades. Not only McLaren is the heir to McLaren P1 that has been rumored to be electric-powered but the company also itself maintains operations far more than the eye can reach.

The Company's Applied Technologies Group has been supplying electronics from Formula One to NASCAR and has also done extensive work on data center optimization. For Apple's own Project Titan, buying McLaren could have been a big jump in that new direction.