Wither Twitter?

May 19, 2014 Sneem's three-legged cat

May 19, 2014 Sneem’s three-legged cat

The following excerpt comes from today’s daily “Morning Media Newsfeed” from AdWeek:

The boss of Salesforce.com has ruled out his company as a bidder for Twitter, all but bringing an end to attempts to find a buyer for the struggling internet company. (Financial Times)

A reversal by Salesforce chief executive Marc Benioff, who previously had signaled interest in a tie-up, calling Twitter an “unpolished jewel,” follows the departure of other prospective suitors, including Walt Disney Co. and Google parent Alphabet Inc. (WSJ)

That leaves Twitter largely on its own, at least in the near term. And the move will please Salesforce investors, many of whom detested the idea of a pricey and distracting bid for the social network. The news all but confirms that Twitter will need to pursue a self-help plan rather than looking to a new owner that could shield it from the skepticism of stock market investors. (NYT / DealBook)

As a result, Twitter stock was trading down more than 6 percent midday Friday. Twitter began seriously exploring a sale in September. (THR)

Salesforce’s stock, on the other hand, jumped more than 7 percent. Twitter’s stock surged in recent weeks on rumors that Google, Disney and Salesforce were interested in an acquisition, with the potential for others like Apple to sniff around. Last Thursday, the stock plunged nearly 20 percent following a report from Recode that Google, Disney and Apple aren’t planning to make a bid. (CNN)

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