Prince Alwaleed Considers Full Purchase of Twitter

Thursday 18th Aug 2016
Prince Alwaleed considers Twitter takeover

Prince Alwaleed considers Twitter takeover

Microblogging juggernaut Twitter saw its share prices rise earlier this month due to rumours of a takeover by former Microsoft CEO Steve Ballmer and Saudi Prince Alwaleed bin Talal.

Based on his own predictions, Robert Peck told CNBC it was unlikely that Twitter’s board would be willing to sell the entirety of the company’s shares.

Prince Alwaleed was reportedly planning a takeover bid of between $22 and $26 per share for the company, but Mr Peck stated that the board is ‘100 per cent behind CEO Jack Dorsey and his turnaround plans.’. He did however add, that he would not be surprised to see this same deal go through in 2017.

Current CEO of Twitter, Jack Dorsey, made the following statement in an interview with NBC:
“We’ve never had more focus as a company, as a development team. I want to make sure that Twitter is the place that you check first thing to start your day. It will tell you exactly what’s happening in the world. What’s most important. What matters. And that’s what we’re driving towards, what we’re focused.”

Twitter’s current market cap is approximately $11.6bn.

Read Prince Alwaleed’s full royal profile here.

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