Twitter shares plummet on reports that Google, Apple and Disney won’t bid for the company

That loud “thud” you heard Thursday morning?

That was likely the sound of two things: One, Twitter shares plummeting more than 18 percent right after the stock market opened. Two, Twitter Chief Executive Jack Dorsey slamming his head on a table as his company’s share price fell faster than the New York Mets’ playoff run after they ran into Madison Bumgarner and the Giants Wednesday night.

Twitter’s shares fell to $20.40 after a report from the Recode blog said Google doesn’t plan to make an acquisition offer for the social-media company. Recode also cited “several sources” as saying Apple wasn’t likely to make a bid for Twitter, and that the Walt Disney Company, wouldn’t be opening its checkbook to buy Twitter, either.

Reports have been circulating for weeks, if not months, that Twitter could be on the block, and have gained steam over the last few days. Microsoft is said to be looking at a bid for Twitter just a few months after it said it would acquire LinkedIn for $26.2 billion, but Salesforce.com has emerged as the name most often mentioned as being interested in buying the company.

Salesforce has been on a buying spree this year, having acquired cloud-based e-commerce management software company Demandware for $2.6 billion, productivity software developer Quip for $750 million, and just this week it reached a $700 million deal for cloud-based marketing software company Krux Digital. Adding Twitter to the Salesforce ranks would give the company access to Twitter’s base of 313 million monthly active users, and all the data provided by those tweeters, too.

Oh, and Salesforce would also get some football in the process, as Twitter is in the middle of a deal to live-stream Thursday night National Football League games, a move that has so far received mostly good reviews.

Whoever ends up buying Twitter, there have been enough speculation and names bandied about to suggest that the company is indeed exploring selling itself, and looking to get something done, soon. A report from Reuters on Thursday said Twitter has told its possible suitors that it wants to get the negotiations for a sale done within the next three weeks, or by the time it reports its third-quarter results on Oct. 27.

Twitter is said to be pushing for a quick resolution of a sale in order to give investors a sign of the company’s direction, and establish some stability, after missing Wall Street’s earnings and sales forecast for several quarters, and not turning in a profit in nearly three years since it went public.

And that’s the kind of sound that nobody wants to hear.

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Photo: The Twitter logo is displayed on a computer screen in London in 2013. On Thursday, Twitter shares fell more than 18 percent after reports that neither Google, Apple, nor Disney would make an acquisition offer for the social-media company. (AFP/Getty Images)

 

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