Prince Alwaleed, Steve Ballmer Rumored to be Mulling Twitter Buyout

Prince Alwaleed, Steve Ballmer Rumored to be Mulling Twitter Buyout

Prince Alwaleed, Steve Ballmer Rumored to be Mulling Twitter Buyout

$TWTR

Rumors this week of a buyout boosted Twitter’s share prices 

Social microblogging site Twitter saw its share prices rise by around 8% Wednesday following rumors of a takeover by former Microsoft CEO Steve Ballmer and Saudi Prince Alwaleed bin Talal.

Mr. Ballmer announced in October 2015 that he had acquired a 4% in Twitter, while Prince Alwaleed 2X’d his stake in the company last year and now owns over 5% of the company.

 

Mr. Ballmer and Prince Alwaleed were reportedly planning to bid at a price of between 22 and 26/ share for the company.

 

Jack Dorsey took over from CEO Dick Costolo last year after Twitter began to stagnate and failed to continue its growth.

Speaking earlier this year following disappointing revenue growth in the 1st quarter, Dorsey said: “We’ve never had more focus as a company, as a development team. I want to make sure that Twitter is the place that you check first thing to start your day. It will tell you exactly what’s happening in the world. What’s most important. What matters. And that’s what we’re driving towards, what we’re focused.”

Founded in Y 2006, Twitter currently has a market cap of around $11.6-B.

Symbol Last Trade Date Change Open High Low Volume
NYSE:TWTR 18.13 4 August 2016 0.52 17.57 18.31 17.36 33,080,000
HeffX-LTN Analysis for TWTR: Overall Short Intermediate Long
Bullish (0.32) Neutral (0.23) Bullish (0.42) Bullish (0.31)

By Aarti Nagraj

Paul Ebleing, Editor

The following two tabs change content below.

Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

You must be logged in to post comments :  
CONNECT WITH