Twitter stock plunges 10% after hours on report that Google won't make a bid
Sources cited by Recode's Kara Swisher and Kurt Wagner say Google does not currently plan to make a bid and was not moving forward with any effort to do so. Apple making an acqusition offer was also "unlikely," according to Recode.Twitter has reportedly told potential acquirers that it wants to conclude selling negotiations by its third quarter earnings report on Oct. 27. Google was one of the top names on the potential acquirer list, along with Salesforce and Disney.
According to people familiar with the matter who spoke with Bloomberg's Sarah Frier, Dorsey was opposed to selling Twitter as recently as September 8, when Twitter held a board meeting to discuss the company's future.According to the piece, there isn't a consensus within the company as to what should happen in the coming weeks and months. Dorsey wants Twitter to "remain on its current course and work to capitalize on recent product improvements and success in streaming live video," according to Bloomberg.
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