CNBC reported earlier on Friday, citing anonymous sources, that Twitter is in talks with companies that include Alphabet's Google and Salesforce.com, and may receive a formal bid soon. Twitter shares rose the most since its stock market debut in 2013, up 21 per cent to $22.59, giving the company a market capitalization of close to $16 billion. Twitter has been a near-constant focus of takeover speculation amid persistently disappointing sales and user engagement. As rivals such as Instagram and Snapchat gain traction with advertisers and social media users, investors have questioned how long Twitter could persist as a stand-alone company. Co-founder Jack Dorsey returned to the company as chief executive in 2015, but his plan for reviving Twitter is at best seen as unfinished.

Source: CBC News September 23, 2016 14:17 UTC