Twitter Shares Rally On Reports Of Takeover Interest

Shares of Twitter Inc. gained Tuesday on reports that the social media company is the target of a takeover bid and that it has hired an adviser as a defensive measure. Barron's also reported that there are two suitors and Goldman Sachs was retained to fight off the overtures. Speculation that Google Inc. or Facebook Inc. may buy Twitter has circulated previously although neither company has publicly commented on the feasibility of such a deal. Twitter rose 3.8% to $52.77 in heavy volume. The stock is up 47% this year.