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

October 14, 2016 1:23 PM EDT

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a FREE trial 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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