A rumor that Steve Ballmer wants to buy Twitter drove the stock up 8%, but an analyst says it won't happen
REUTERS/B Mathur
The rumored buyer: Former Microsoft CEO Steve Ballmer and Saudi Arabia's Prince Al-waleed Bin-Talal.
But according to CNBC and SunTrust analyst Robert Peck, the chatter is just a rumor and a deal is unlikely to happen.
During the Fast Money Halftime Report on CNBC on Wednesday, the program's host said they'd spoken with Peck, who dismissed the acquisition rumor.
Peck reportedly told CNBC that Twitter's board and CEO Jack Dorsey would not be willing to sell the company at this time, though he said an acquisition of the company in 2017 wouldn't surprise him.
Twitter's stock suffered a sharp decline over the past year as the company's business and user growth have stalled. Twitter's market cap, which once stood at $25 billion, has periodically fallen below $10 billion recently.
The decline in Twitter's stock has led to ongoing speculation that the company could be a takeover target.
Ballmer, who announced in October that he had purchased a 4% stake in Twitter, has voiced support for the company and CEO Dorsey in the past. Price Bin-Talal has a roughly 5% stake in the company.
Representatives for Ballmer and Prince Bin-Talal, and Twitter, did not immediately return requests for comment.
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market