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Twitter's CEO downplays chatter about possible acquisition
Twitter Inc Chief Executive Jack Dorsey said on Tuesday that he saw value in the social media network remaining an independent company, downplaying recent speculation by analysts that it could be an acquisition target.
SAN FRANCISCO :Twitter Inc Chief Executive Jack Dorsey said on Tuesday that he saw value in the social media network remaining an independent company, downplaying recent speculation by analysts that it could be an acquisition target.
Some investment analysts reignited talk of a potential Twitter deal last week when Twitter reported a surprising rise in revenue and its first quarterly profit.
The Walt Disney Co expressed interest in 2016, though at the time Twitter shares were trading at about half the current price, meaning an acquisition by anyone would be much more expensive than two years ago.
Shares in Twitter closed at $33.44 on Tuesday, up 8 percent against a 0.3 percent rise in the S&P 500 Index. Dorsey’s comments came after the closing bell, and shares were unchanged afterward.
