Disney Rumored To Put In Bid For Twitter
The Walt Disney Co. is evaluating making a possible bid for Twitter. According to Bloomberg, [...]
The Walt Disney Co. is evaluating making a possible bid for Twitter. According to Bloomberg, Disney is currently working with a financial adviser to crunch the numbers in order to see if the acquisiton would be feasible and lucrative.
Twitter first started evaluating a potential sale after receiving increasing interest from multiple corporations. Other companies considering making a bid for Twitter are Google, Verizon, and Salesforce.com, who is reportedly working with Bank of America on the process.
After Bloomberg published the news that Twitter would be entertaining the idea of a sale on Friday, the company's stock rose to a nine-month high at nearly $23 per share. On the other hand, Disney's stock didn't make out quite as well as the shares dropped by 1.73% down to $91.66.
Interestingly enough, Twitter chief executive officer, Jack Dorsey, is also on the board of Disney. Bloomberg also mentioned that if Disney was to make a bid, they would be able to assist Twitter in their push to further develop their video-streaming media strategy.
Representatives from both Twitter and Disney have not immediately responded to the requests for comment.
Do you think it's a good idea for Disney to purchase Twitter?