Twitter (TWTR) Sinks on Report Google (GOOGL) Won't Bid

October 6, 2016 6:19 AM EDT

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Twitter (NYSE: TWTR) is under heavy pressure early Thursday amid reports from Re/Code Google (NASDAQ: GOOGL) will not make a bid for the company.

From Re/Code:

According to sources close to the situation, Google does not currently plan to make a bid for Twitter. While the search giant has been among the buyers considered most likely to be a contender for the social communications company, those familiar with the deal said that the company was not moving forward with an effort to buy it at this time.

The report also said Apple was unlikely to be a suitor and Disney is "not going to make an offer."

With Google, Apple and Disney out, this leaves (NYSE: CRM) among others possible bidders.

Bidding is said to start this week and, according to reports late Wednesday, the company hopes to complete the sale process by the end of the month.

Shares of Twitter last traded down 13% to $21.60.

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