Not Happening: Apple Not Going To Buy Sony, EA Or Anybody For That Matter

The internet went ablaze after rumors surrounding Apple’s supposed buying of Sony or EA (and a host of other candidates).

Sure it seemed likely, having a cool $51 billion in cash lying around.

Sorry gamers it’s not happening anytime soon.

The latest BusinessInsider article has put those claims to rest once and for all:

“Most mergers destroy value, and Jobs is acutely aware of it.”

So why would Apple do something that would lessen their stock value?

Why it’s not Sony: “Sony also has a movie studio and dozens of product lines in consumer electronics that Apple doesn’t want. Sure, it might sell those off, but again — does Jobs want to be stuck with that headache for the next five years?”

So, maybe a smaller acquisition like Netflix? “[Jobs] would have to overpay massively given where the stock is (and that Amazon and Google would probably bid up the price if nothing else)”

To sum up the rumors in one sentence: “That cash is staying on the balance sheet.”

You can rest easy now.

via BusinessInsider