Salesforce declines bid on Twitter

Salesforce CEO Marc Benioff has indicated in an interview with the Financial Times that his company is no longer interested in the acquisition of Twitter. The internet company would still be looking for potential buyers.

However, Twitter’s sales process is “as good as dead,” a source within the company told the newspaper. Salesforce would have been the last serious party for a takeover, after Google and Walt Disney also declined an offer. The Salesforce CEO had to explain to his shareholders why a software company is taking over a consumer internet company that is in trouble, the newspaper continues.

Benioff explains that Twitter “doesn’t suit Salesforce” and that he has therefore refrained from taking over. He does not elaborate on the exact reasons: “It is a question of price, but also of culture and of the whole picture,” he explains to the newspaper. The CEO reportedly told his shareholders that the data held by Twitter could be of great value to Salesforce, but that it was not the main reason for a potential acquisition.

Following the announcement of rumors of a Twitter takeover around the end of September, the company’s shares rose in value by 20 percent. However, nothing has been left of this growth since the beginning of this week, according to the newspaper. It was previously announced that some large potential buyers are no longer interested in an acquisition.