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Microsoft has owned Apple stock in the past: http://ask.metafilter.com/30833/How-much-of-Apple-Computer-does-Microsoft-own http://ask.metafilter.com/30833/How-
by pragmatic 15y ago
Microsoft has owned Apple stock in the past:
http://ask.metafilter.com/30833/How-much-of-Apple-Computer-does-Microsoft-own http://ask.metafilter.com/30833/How-much-of-Apple-Computer-d...
From Apple's 2003 SEC filing:
"In August 1997, the Company and Microsoft Corporation (Microsoft) entered into patent cross license and technology agreements. In addition, Microsoft purchased 150,000 shares of Apple Series A nonvoting convertible preferred stock ("preferred stock") for $150 million. These shares were convertible by Microsoft after August 5, 2000, into shares of the Company's common stock at a conversion price of $8.25 per share. During 2000, 74,250 shares of preferred stock were converted to 9 million shares of the Company's common stock. During 2001, the remaining 75,750 preferred shares were converted into 9.2 million shares of the Company's common stock."
- raganwald 15y agoI was around at the time, I remember it well, and this is entirely orthogonal to my point. My point is that they couldn't buy a company like Apple and do as well as Apple did being independent. Had they bought all of Apple in 1997, Apple would not exist today. Microsoft would probably be doing a lot better due to the lack of a competitor, but you never know, Jobs might have founded another company and be killing Microsoft with it. My post is about management, not stock picking.