Twitter (TWTR) Moves Closer to a Sale - CNBC
(Updated - September 23, 2016 9:05 AM EDT)
Twitter (NASDAQ: TWTR) is moving closer to sale, and has received expressions of interest, CNBC's David Faber reports. However, he said no sale is imminent.
Twitter suitors are believed to include Salesforce (NYSE: CRM) and Google (NASDAQ: GOOGL) (NASDAQ: GOOG), the report added.
Twitter has been in the rumor mill essentially since it went public in 2013 and today's report of a sale comes as fundamentals at the social media company continue to weaken. Overnight, RBC Capital downgraded Twitter, Inc. (NYSE: TWTR) from Sector Perform to Underperform with a price target of $14.00 (from $17.00), saying the value proposition to advertisers could be waning, based on their recent advertiser survey data.