Twitter Surges After Report That It May Be Close To Sale

NEW YORK (CBS / AP) — Twitter’s stock surged Friday following a report that the social media company, forever struggling in Facebook’s shadow, is close to a sale.

The business channel CNBC, citing unnamed sources, said Friday that Twitter Inc. has received “expressions of interest” from several technology or media companies and may receive a formal bid by the end of the year. It named Salesforce.com. and Google as possible buyers.

Twitter has failed to keep pace with Facebook Inc. and Snapchat as far as growth and a loyal fan base are concerned.

Salesforce.com said it doesn’t comment on rumors and Google did not immediately respond to a request to talk about a possible deal.

Twitter soared $3.99, or 21 percent, closing at $22.62.

© Copyright 2016 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments

One Comment

  1. Pan Neder says:

    Just hope that a lot of Twitter employees are fired without any benefits. If you are given a chance at a company which has the resources that Twitter has and fail, you should shut your mouth and get into the bread line.

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