Twitter shares plunge on report bidders are scarce

With stagnant user growth and continuing losses, Twitter's board agreed last month to consider a sale, and has told potential acquirers it wants such deliberations to conclude by the time it reports third-quarter earnings on Oct. 27, Reuters reported on Wednesday. Technology website Recode reported later on Wednesday that Alphabet Inc's Google , long considered the most logical buyer for Twitter, and Walt Disney Co would not bid for the social network, leaving cloud software company as the only known suitor. Twitter shares fell as much as 19.2 percent to $20.10, valuing the company at about $14.2 billion.

Original story here.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply