Twitter stock jumps after a potential bid rumors.
Shares in Twitter rose more than 3% in pre-market trade on Monday on a report that Google had hired a financial adviser to consider a possible buyout.
Alphabet’s biggest subsidiary had tapped Lazar Ltd. to study the possible acquisition of the social media company, according to a Bloomberg report citing a person familiar with the deal.
Google was said to be evaluating a deal, potentially pitting it against other possible suitors such as s Salesforce.com, Walt Disney Company or Microsoft.
For the last several months there have been rumors that the 10-year-old social networking service could receive bids as it continues to lose money and maintains talks with potential tech companies, according to reports.
Twitter had initially risen nearly 6% in pre-market trade on Monday, but had since pared gains, advancing 3.25% to $23.80 at 11:41GMT.