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Shareholders turn down bid for McLaren
McLaren chief executive Mike Flewitt says the company's shareholders have turned down a bid for the F1 team and its' luxury sports car sister company.
Ron Dennis, who headed the McLaren Technology Group (MTG) that runs the Grand Prix racing team, left his position last week amid speculation that the shareholders had turned down a bid from a Chinese consortium.
Dennis, who reportedly supported the Chinese bid, Bahraini investment fund Mumtalakat, and TAG, a company led by Saudi-born businessman Mansour Ojjeh, are the automotive firm's three biggest shareholders.
"There have been a number of bids," Flewitt told Reuters.
"I am comfortable with where our current shareholders are that they want to retain ownership of the company. They want to develop both companies. I genuinely believe they are very committed to them," he said.
Flewitt also played down a Financial Times story that Apple had made an approach in September to invest in or buy McLaren, but admitted exploratory talks did take place with the US technology giant.
"There wasn't a bid from Apple," said Flewitt.
"They visited. We talked. We talked about what they did. We talked about what we did. They toured. It never matured to a definitive proposition."
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