Deals
Aston Martin Is Taking on Ferrari. The Two Could Have Been One
- Italian super-car maker, under Marchionne, mulled buying Aston
- Ferrari decided instead to expand to SUVs, less extreme cars
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Aston Martin has set an ambitious goal for its initial public offering this week: to earn a higher valuation than Ferrari NV. If events had turned out differently a few years ago, the British carmaker could have ended up part of its Italian rival.
Investors in Aston Martin, whose sports cars were made famous in the James Bond movies, made informal approaches to Ferrari about a deal soon after Sergio Marchionne took the reins at the Italian super-car maker in late 2014, said people familiar with the discussions. Ferrari reviewed a potential acquisition as a way to expand beyond high-performance cars and attract new customers, said the people.