Washington – Twitter Inc.’s stock fell sharply Monday amid speculation that potential buyers of the unprofitable social media company were losing interest in pursuing a deal.
Twitter fell 11.5 percent to close at $17.56 after Bloomberg reported over the weekend that possible bidders were stepping back. Earlier on Monday, the shares were down more than 14 percent.
Those potential bidders reportedly have included Alphabet Inc.’s Google unit, Walt Disney Co., and others, although no buyout offers have materialized.
Rumors of a potential takeover bid had driven Twitter’s stock to nearly $25 a share last week. With the stock’s decline since then, the company’s total stock market value is about $12 billion.
