A new day, a new development in the Twitter Inc TWTR M&A saga. The latest report comes from The Wall Street Journal who reported Tuesday evening that Twitter is expected to receive a buyout offer from salesforce.com, inc. CRM.
WSJ, citing "people familiar with the matter," noted that Salesforce CEO Marc Benioff has been active in explaining to the company's investors and other key figures why an acquisition of the social media company is the right move.
The sources suggested that Benioff is attracted to Twitter's "treasure trove" of user data and a "prized" consume brand.
However, Salesforce's investors aren't overly enthusiastic given the fact that its stock is lower by nearly 4 percent during Wednesday's pre-market session.
Perhaps Benioff sees something in Twitter that the rest of the Street doesn't. This may be the case as WSJ added that the executive views Twitter as an "unpolished jewel" with untapped potential in advertising, e-commerce and other data-rich applications that are considered to be important to its own growth.
There is one hurdle Benioff has to concur. He may be forced to enter a bidding war against powerhouse giants, including Alphabet Inc GOOG, who has more cash on hand than Salesforce's entire $49 billion market capitalization.
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