Trade Alerts

The Wall Street Journal: Twitter is expected to field bids this week

October 4, 2016
Comments off
129 Views

Twitter Inc. is expected to field bids this week, and Marc Benioff has been building a case to Salesforce.com Inc. investors and others that his company should be the buyer, according to people familiar with the matter.

Mr. Benioff is looking to make a splashy acquisition that would secure for Salesforce CRM, +2.99%   a treasure trove of data as well as a prized consumer brand, according to the people.

Mr. Benioff, whose recent approach to Twitter TWTR, -2.00%   set off the bidding process, sees the social-media pioneer as an “unpolished jewel” with untapped potential in advertising, e-commerce and other data-rich applications he regards as important to the cloud-software juggernaut’s next phase of growth, the people said.

But the brash CEO, who lost out to Microsoft Corp. MSFT, -0.31%   in a bitter battle to buy LinkedIn Corp. this spring, faces formidable obstacles.Alphabet Inc.’s Google GOOG, +0.50%   may bid also, the people said, while media giant Walt Disney Co. DIS, +0.11%   has been considering its own offer.

An expanded version of this report appears on WSJ.com

More from MarketWatch

Let’s block ads! (Why?)

Comments are closed.