If Anything, Twitter Just Lost A Potential Buyer
Analysts and investors have been debating for quite some time if Twitter Inc (NYSE: TWTR) will ever sell itself to a larger internet peer or strategic buyer. According to RBC Capital Markets' Mark Mahaney, this debate could continue but investors can at least scratch Microsoft Corporation (NASDAQ: MSFT) name off any list of potential buyers.
Mahaney, speaking to CNBC, suggested Microsoft acquired a "good asset" in a "pretty good" when it agreed to pay more than $26 billion to acquire LinkedIn Corp (NYSE: LNKD).
The Microsoft-LinkedIn merger announcement isn'rt even a few hours old, but Mahaney is already speculating on what will be the next major M&A deal in the internet space.
Mahaney pointed out that shares of Twitter were trading "materially" higher by more than 6 percent, but the Microsoft-LinkedIn deal doesn't make the social media company any more likely to be acquired.
"In fact, given the size of this deal, you probably just took away at least for the foreseeable future one of the potential buyers of Twitter," the analyst said. "We wouldn't be chasing that."
Latest Ratings for TWTR
Date | Firm | Action | From | To |
---|---|---|---|---|
Mar 2022 | Deutsche Bank | Initiates Coverage On | Hold | |
Mar 2022 | Benchmark | Initiates Coverage On | Hold | |
Feb 2022 | Wells Fargo | Maintains | Equal-Weight |
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