Deals
Twitter Shares Fall After Deal Interest Said to Cool Off
- Suitors said to have stepped back, dimming sale prospects
- Google, Salesforce and Disney had weighed offers for company
Twitter Falls as Suitors' Deal Interest Dwindles
This article is for subscribers only.
Twitter Inc. fell 12 percent Monday after potential bidders were said to have lost interest in making offers to buy the company.
The social media company had attracted interest in recent weeks from Alphabet Inc.’s Google, Salesforce.com Inc. and Walt Disney Co., all of which had consulted with banks on whether to pursue a bid. Now all of those suitors are unlikely to make an offer, according to people familiar with the matter. On Friday, Twitter had planned to have a board meeting with outside advisers on a sale but canceled, one of the people said.