Twitter shares jump on takeover talk reports

News General Global 26 SEP 2016
Twitter shares jump on takeover talk reports

Twitter has received expressions of interest from a number of technology and media companies and could receive a bid by the end of the year, CNBC reported, saying the news sent shares soaring over 20 percent on 23 September. Potential suitors include Google and Salesforce.com, amongst others. Sources said the company could sell for around USD 26 per share, about USD 3.50 higher than the close. Other reports put a total bid at USD 18-30 billion, Recode reported.

Sources said Twitter's board of directors is looking forward to a deal but that no sale was immediately imminent. Suitors are said to be interested as much in the data that Twitter generates as its place as a media company. Salesforce declined to comment to CNBC and other companies did not immediately provide a comment.

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