Salesforce is no longer considering a bid for Twitter, reports the Financial Times, citing Salesforce CEO Marc Benioff. “We’ve walked away. It wasn’t the right fit for us,” said the chief executive of the US cloud software company, after shareholders had reportedly expressed doubts about the strategic merits and valuation of the potential deal. Other potential acquirers such as Google and Disney previously backed away from making offers for the social networking platform, leaving Salesforce as the only serious contender. When asked precisely why Salesforce decided not to bid, Benioff told the FT: “You’re going to look at price, you’re going to look at culture, you’re going to look at everything."
Although Twitter’s advisers are still said to be looking for other potential bidders, the sale process is virtually dead, according to an unnamed source. Twitter shares lost as much as a third of their value in the week following the 05 October reports that the company was attracting less takeover interest than hoped.
