Tesla CEO confirms 2013 conversation with Apple

Article by Anita Panait, on February 23, 2014

Tesla Motors Inc. chief executive Elon Musk has confirmed to Bloomberg TV has had "conversations" with Apple Inc. but wouldn’t provide details on the nature of the talks. He, however, remarked that that it is "very unlikely" that Tesla would be acquired by any company. "We need to stay super focused on creating a compelling mass-market electric car," Musk said.

"I'd be very concerned in any kind of acquisition scenario, whoever it is, that we would become distracted from that task, which has always been the driving goal of Tesla."

The San Francisco Chronicle has reported that Musk met with Adrian Perica, Apple Inc.'s head of mergers and acquisitions, in 2013. The report prompted Tesla’s shares to surge even as some analysts doused the prospect of an agreement.

Stifel analyst James Albertine told Reuters that their sense is that Tesla’s management might not like to be managed. "We also expect potential suitors may welcome some semblance of share price stabilization before negotiating price," Albertine said.

Tesla’s shares surged up to 11 percent on Feb. 20 on the Nasdaq to an all-time high of $215.21 before closing at $209.97. The surge came after Tesla disclosed that it narrowed its fourth-quarter net loss to $16 million net loss.

Topics: tesla, apple

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