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Apple to offer Twitter $700m in takeover deal

by Dan Leahul, Brand Republic 05-May-09, 09:35

LONDON - Apple is poised to make an offer for Twitter in a $700m (£465m) deal that could come as early as June, according to reports.

Industry blog Valleywag claims an inside source at Apple is involved in advanced negotiations with Twitter, aiming to seal a deal by June 8, when Apple is due to host its Worldwide Developers Conference.

Last November, Twitter turned down a $500m offer from Facebook, although it was understood that the deal was composed of Facebook stock, the value of which was disputed.

Apple is said to be waving an offer of $700m in cash in front of Twitter, possibly edging out Google and Microsoft who have also shown interest in the popular microblogging website.

Apple recently completed a gushing business profile of Twitter which it posted online, titled "Twitter. Triumph of humanity."

The Valleywag blog post was written by editor Owen Thomas, who announced this month he is leaving the website to work for NBC.

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Comments

George Nimeh - 05/05/2009

Just wondering if this is a sign of the aporkalypse, or just another well-timed rumour to keep the PR wheels at Twitter spinning. Seems there's a new story like this every 10 days or so. Add the Apple brand to the mix, and you've got two of the best PR'd brands in one release. How can any sane person ignore it?!? If it is serious, Steve Jobs must have come down with a case of pigpox and/or hamthrax, as he's clearly showing signs of making a seriously irrationally exuberant and ham-fisted decision. @iboy

I Scream Man - 05/05/2009

Load of BS - Apple rarely, if ever, 'leak' stories and 700 million for a business yet to make any money....

Greg Lusk - 08/05/2009

crikey are people still talking about twitter. admitadley i used it religiously for the first 2 months but now couldn't careless. once the novelty of getting people to follow you has worn off this really is just a rather dull concept. to put it bluntly I'm sure my mum in the Uk doesn't care less if i've eaten cornflakes for breakfast and my brother in oz certainly couldn't give two flying hoots if im stuck in a lift. maybe im just too old fashioneed but i'd much prefer to pick up the phone and talk to someone or better still sit down with them and have a chat over a nice cup of tea! \(or coffee)