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Twitter hits year high as bid talk intensifies

Wednesday, October 5, 2016 7:37
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Shares in Twitter (NYSE:TWTR) jumped by 5% to a high for the year as a new report tipped the social media giant for a bid as soon as this week.

A raft of potential suitors from Disney to Google has been suggested but one name consistently linked with the story is business and marketing software group

Its boss, Marc Benioff, reportedly sees the social media group as the ideal fit after he lost out in an attempt to buy LinkedIn to Microsoft.

At the price of US$24.76 today Twitter was valued at US$17.2bn.

A successful bidder may have to pay have reached US$20bn according to the latest broker estimates.

That has  and some commentators suggest that if one of the mega-giants did decide it really wants to buy Twitter, could again find itself outbid.

Story by ProactiveInvestors


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