Twitter Crashes After Google, Apple Reportedly Pull Bid

Having rallied a ridiculous 37% in the last 10 days on the back of hype around a potential bid, Twitter (TWTR) shares were in freefall after a Recode report that Google (GOOG) will not make a bid and Apple (AAPL) is an unlikely suitor.

Just as Twitter was about to overtake Deutsche Bank's (DB) market cap once again...

Recode reports,

According to sources close to the situation, Google does not currently plan to make a bid for Twitter. While the search giant has been among the buyers considered most likely to be a contender for the social communications company, those familiar with the deal said that the company was not moving forward with an effort to buy it at this time.

In addition, several sources Recode has spoken to this week also said that Apple was unlikely to be one of the possible suitors, with one saying Twitter should have “low expectations” of getting an offer from the tech giant.

That should tamp down the frenzied speculation around a possible Twitter sale since Salesforce began no-commenting noisily with regard to possible interest in acquiring it a few weeks ago.

TWTR shares are down over 11% after hours, but there's plenty of exuberance to be drained from this puppy yet...

 

Still we are sure there will be plenty of hype around other potential suitors for the social media platform tomorrow - besides, what do Apple and Google know?

Sadly, for Marc Benioff, his currency is not gaining much here...

Disclosure: None.

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