Market Overview

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

Share:
Gasparino: Bankers Talk Twitter Sale, But Price Would Need To Come Down
Related TWTR
Why User Privacy Will Be The Hottest Tech Topic Of 2018
Here's What's Coming Up On PreMarket Prep For December 15
Twitter Shows Rising Price Performance With Jump To 91 RS Rating (Investor's Business Daily)

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 GasparinoNews Rumors M&A Movers Best of Benzinga

 

Related Articles (CRM + FB)

View Comments and Join the Discussion!