Twitter Shares Plummet 14% as Multiple Bidders Drop Out

twitter-logo-2Shares of embattled social media giant Twitter Inc (NYSE:TWTR) were reeling Thursday morning, as reports indicated two big potential buyers wouldn’t make a play to acquire the company.

Recode first reported the news late yesterday that Google parent Alphabet Inc. (NASDAQ:GOOGL) was dropping out of the running:

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 indicated that Apple Inc. (NASDAQ:AAPL) was an unlikely suitor. Until now, Apple hadn’t really been mentioned as a potential Twitter acquirer, but that possibility has been quickly put to rest.

Hours later, another major bidder dropped out of the race, with Disney (NYSE:DIS) reportedly nixing the idea for now:

Sources familiar with Disney, which was mulling a possible Twitter purchase last week, say the media giant has decided not to move forward.

With Google, Apple, and Disney all out, the only major rumored bidders left are (NYSE:CRM) and Verizon (NYSE:VZ). Verizon seems an unlikely suitor, at least in the near future, due to its impending acquisition of Yahoo.

With now firmly in the driver’s seat, maybe the company won’t have to face a bidding war after all. CEO Marc Benioff has been shopping the idea of acquiring Twitter to investors, board members, and seemingly anyone else who will listen over the past few weeks, so a bid could well be imminent.


Twitter shares fell $3.37 (-13.55%) to $21.50 in premarket trading Thursday, erasing nearly all of the gains generated from takeover speculation in late September.