Twitter slumps on reports Google not planning bid

Twitter shares tumbled on Thursday following a report that Alphabet’s Google is not planning to make a bid for the company.

Technology news website Recode also cited sources familiar with the matter on Wednesday as saying that Disney and Apple were unlikely to make a bid.

That leaves Salesforce as the only potential buyer, although the group has not confirmed that it was pursuing a deal.

According to Reuters, Twitter has told potential acquirers that it is looking to complete sale negotiations by 27 October.

Jasper Lawler, market analyst at CMC Markets, said: “Microsoft has its LinkedIn purchase to deal with and Apple is an unlikely suitor. That just leaves Salesforce with a possible interest in Twitter. With all the bidders taking flight, it’s beginning to look like corporate buyers think Twitter is as much of a difficult buy as investors have over the past three years.

At 1326 BST, Twitter shares were down 17% to $20.62 in pre-market trade.