(CRM) Rules Out Twitter (TWTR) Bid - FT

October 14, 2016 1:23 PM EDT

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here. (NYSE: CRM) has ruled out a bid for Twitter (NYSE: TWTR), saying the company is "not the right fit," according to the Financial Times.

"In this case we've walked away. It wasn't the right fit for us," CEO Marc Benioff said in an interview with the news service.

Shares of Twitter dropped 7% while gained 4% following the report.

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