In 2013, Apple put in a bid to buy Tesla for $240 a share, Roth Capital Partners Analyst Craig Irwin says. '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.”
If the two companies were to combine, it would be by far Apple's largest acquisition ever and one of the biggest in the history of the technology industry. Tesla's current market cap is about $36 billion. The most Apple has ever paid is $3 billion for Beats Electronics in 2014.
For a deal to take place Apple would face the question of what to do with the outspoken Musk and his tendency to gain attention for many of the wrong reasons, whether it's tweeting out material nonpublic information or smoking weed on a podcast. "Regarding the acquisition: my understanding is Apple wanted Elon Musk to step away, and that was a deal killer," Irwin said in the email.
Correction: In August, Tesla CEO Elon Musk said he had "funding secured" to take the company private at $420 a share. An earlier version mischaracterized his statement.
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