The micro-blogging company hopes to report its quarterly earnings on the same day on which a decision is to be made
Twitter Inc. (NYSE:TWTR) is reportedly set to decide on the sale of its business by the end of October, after news filtered through that the company is looking to make a decision by the 27th of this month. Twitter was having a tough time when it came to stock price but the news of a potential acquisition breathed new life into the company value, raising its share price by more than 20%.
In the continuation of the news related to an acquisition, Twitter now seems to be looking to settle the sale matter once and for all. However, October 27 is not a day of significance for only that reason either, as quarterly earnings are also scheduled to be reported on the same date. As for interest in Twitter, Salesforce.com, Google’s parent company Alphabet Inc. (NASDAQ: GOOGL), and Walt Disney Co are all thought to be front-runners if any deal goes through.
If Google, Salesforce.com, or Disney are indeed interested in the acquisition, they are certainly keeping a low profile, and not making their presence felt yet. Twitter’s top hierarchy has also been reported to be torn on whether a sale is the right step for the company at this moment, while the hesitation of the buyers and the uncertainty among the seller’s ranks has sown many a seeds of doubt already.
That is why the company feels that a decision would have to be taken swiftly, and news sources have reported October 27 to be the day when the decision is finally taken on Twitter’s part. No sale is guaranteed, however, as the reported rush in finalizing negotiations is said to be on CEO Jack Dorsey’s insistence to provide a clearer picture to all stakeholders and employees after a grueling few months, irrespective of whether Twitter is sold or not.