Sep
23
Twitter Surges on Report It's Said to Be Closer to Sale
Posted in: Uncategorized
Twitter shares soared the most in more than two years Friday after CNBC said the company may soon receive a takeover offer.
The beleaguered social media company is engaged in conversations with potential suitors that are said to include Salesforce.com Inc. and Alphabet Inc. unit Google, among others, CNBC said without citing its sources. Twitter may get a formal offer shortly, sources told CNBC.
Speculation that Twitter is ripe for a sale has been swirling for months as the company has failed to lure new users, leading to several quarters of stagnant growth and a plummeting stock. The shares were down almost 20% this year before the surge Friday. The shares were up 18% to $21.99 at 9:38 a.m. in New York.
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