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Gasparino: Bankers Talk Twitter Sale, But Price Would Need To Come Down

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Gasparino: Bankers Talk Twitter Sale, But Price Would Need To Come Down

As seems to happen every couple of weeks, Twitter Inc (NYSE: TWTR) was the subject of takeover rumors Thursday.

Near the close, Fox Business reporter Charles Gasparino tweeted, “#BreakingNews Investors nervous about lack of clarity on taxes and yes once again bankers are talking up $twtr sale more now @FoxBusiness.”

Minutes later, Gasparino appeared on Fox Business to say that Twitter would need to come down in price in order to secure an M&A deal. He personally "wouldn't buy it at $17 but...would buy at $12."

Earlier in the day, another Tweet circulated a fake report of interest in the company and saw shares spike to $17.78 on high volume.

The stock spiked late in the trading day and closed up 3.13 percent at $17.78.

Back in June 2015, Gasparino cited banking sources saying Twitter was up for sale. He called a potential bidding war for Twitter between Facebook (NASDAQ: FB)and Google (NASDAQ: GOOG) as a "trainwreck."

Twitter was the subject of what seemed like an endless amount of M&A rumors in 2016, most notably involving Salesforce.com, Inc. (NYSE: CRM).

Posted-In: Charlie GasparinoM&A News Rumors Movers Best of Benzinga

 

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