Twitter To Merge With Yahoo? Dorsey Is No Longer Interested, For Now

New York Post's James Covert reported on Twitter TWTR's meeting with Yahoo YHOO that took place several weeks ago, but was recently announced last night. The meeting was initially to explore merger opportunities between the two companies. "Jack Dorsey's struggling social network met with Yahoo's management, led by Chief Executive Marissa Mayer, several weeks ago to discuss a possible merger of the companies" according to Covert. Both companies want to grow in the "instant news market" and a merge would be more strategic than one would think. "Twitter is the destination for instant news, and Yahoo has a lot of eyeballs on its site" said one source stated Covert. Twitter was not impressed, however, as Dorsey's company backed away from the deal. "Twitter appeared mainly interested in sucking information out of Yahoo, as it bowed out of the bidding process soon thereafter, sources said" according to Covert. Second-round bids for Yahoo's core internet business begin early next week with AT&T T, Verizon VZ, and Dan Gilbert with Warren Buffett among probable bidders. "Insiders said some bids could reach $4 billion with $3 billion in debt financing and an equity check as big as $1 billion" said The New York Post. As for Twitter, "Dorsey has enough problems," with his own company before taking on Yahoo's set of dilemmas.