Disney Reportedly Working With Adviser On Potential Twitter Bid

(RTTNews) - Walt Disney Co. (DIS) is working with a financial adviser to evaluate a possible bid for Twitter Inc. (TWTR), Bloomberg reported citing people familiar with the matter.

TWTR closed Monday regular trading at $23.37, up $0.75 or 3.32 percent. But, in the after-hours, the stock dropped $0.08 or 0.34 percent.

After receiving interest in discussing a deal, Twitter has started a process to evaluate a potential sale. Salesforce.com Inc. is also considering a bid and is working with Bank of America on the process, the report said.

The takeover talks have been fueled by Twitter's sluggish growth in users and revenue, perennial turnover among senior executives and a lack of mission and business plan as focused as those of competitors like Facebook Inc.

A Twitter acquisition would be Disney's biggest technology deal yet, following recent investments in Hulu and Vice, among others.