Shares of Twitter up 15%
CNBC reports that Twitter is moving closer to a sales and that suitors include Google and Salesforce but that no sale is imminent.
The story cites sources and said the company "may receive a formal bid shortly."
Salesforce is an odd one. It has a market cap of $50 billion which is plenty to absorb Twitter, which closed yesterday with a market cap of $13 billion. Although I'm not so sure how Salesforce could generate that kind of cash or what the synergies would be.
The big name there is Google, where the $20 to $25B cost would be a drop in the bucket.
Shares of Twitter are up 16.8% on the rumor. Late yesterday, analysts at RBC had downgraded TWTR -- ouch.
