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(REUTERS)

Google Nearly Bought Tesla in 2013

By Technology FOXBusiness

Tesla Motors (TSLA) founder and CEO Elon Musk was on the verge of selling the electric car maker to Google (GOOGL) two years ago.

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According to Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future, a new book due May 19 from HarperCollins, Musk attempted to negotiate a deal with his friend Larry Page, Google’s co-founder and CEO, with Tesla on the brink of bankruptcy in early 2013.

Musk contacted Page in the first week of March 2013. The PayPal co-founder wanted Google to buy Tesla for around $6 billion and keep the automaker alive at least until Tesla released a mass-market electric car.

Page accepted the parameters and shook on the deal, author Ashlee Vance wrote. Tesla and Google soon began formal negotiations.

But Tesla reported its first-ever quarterly profit on May 8, 2013, thanks in part to a frantic effort to turn Model S preorders into sales. The proposed sale to Google was shelved.

Today, Tesla has a market value of approximately $25.9 billion.

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News of the potential tie-up was included in a book excerpt published Monday by Bloomberg. A Google spokesperson said the company doesn't comment on rumors or speculation. Tesla didn’t immediately respond to an inquiry from FOXBusiness.com.

Google climbed 2% to $543.14 in recent trading. Tesla shares ticked 0.2% lower to $206.30. The stock has nearly quadrupled since May 2013.

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