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Twitter seeks a sale decision by October 27th

posted onOctober 6, 2016
by l33tdawg

Twitter's flat growth and falling profits made for a dim outlook until a few weeks ago when sources close to the social media platform said that Google, Salesforce and other tech luminaries were looking to buy it. The company's stock jumped 20 percent that day, and speculation has continued as to which would be the best buyer. But it seems time is of the essence: Twitter wants to conclude sale deliberations before October 27th, the day it reports its third quarter earnings, sources told Reuters.

Binding acquisition offers are due in two weeks, the sources noted. Salesforce is in the running, which could mine Twitter's data for business intel, while Disney might make a bid to use its social media platform to boost outreach for its programming. While Google was considered a prominent potential buyer, separate sources told Recode that the search giant won't make a bid. Apple isn't likely to enter the fray either.



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