Tesla Motors Inc (NASDAQ:TSLA)’s founder and leader, Elon Musk, was already driving a hard bargain for the company when it was almost sold to Google Inc (NASDAQ:GOOGL) in 2013, Betty Liu and her colleagues discuss in a segment of Bloomberg’s In The Loop.
Yesterday, Bloomberg’s Ashlee Vance revealed that Musk was seeking a rescuer in the person of Google Inc (NASDAQ:GOOGL)’s current CEO, Larry Page, in a deal which would have ended in the sale of Tesla Motors Inc (NASDAQ:TSLA) for $6 billion and another $5 billion in capital for the construction of a factory.
However, the deal did not go through.
According to Liu and her colleagues, Google would just love to turn back the time and purchase Tesla outright if they knew how much the company would become successful in the coming years.
Nonetheless, they did note that the electric car maker was not doing too well when the company was seeking a sale. However, in that quarter itself, Musk’s company got a surprise profit and things have looked up for them ever since.
Liu and the Bloomberg panelists also noted that Musk was driving a particularly hard bargain with Page as he was valuing the company really high for the figures it was generating. Nonetheless, given Google is flush with cash from a highly-profitable internet advertisement unit, it would not have taken much for the company to buy the car marker.
Meanwhile, Liu and the others also talked about Home Depot Inc (NYSE:HD)’s plan to employ the same tactics it uses to sell a ton of merchandize on Black Friday for the Spring season and the ongoing woes Greece is facing.
Boykin Curry’s Eagle Capital Management owned 774,750 Class A Google Inc (NASDAQ:GOOGL) shares by the end of 2014. The stake in Google Inc (NASDAQ:GOOGL) which made up 1.55% of the whole Eagle Capital portfolio decreased 2% quarter over quarter.
By the end of the same period, Daniel Benton’s Andor Capital Management owned 1.25 million Tesla Motors Inc (NASDAQ:TSLA) shares by the end of December. The number of shares in Tesla Motors Inc (NASDAQ:TSLA) which made up 17.71% of the whole Andor Capital portfolio was unchanged quarter to quarter.
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