Jul 16, 2015

    Twitter shares jump on '$42b takeover offer'


    A REPORT claiming that Twitter received an offer to be acquired for US$31 billion (S$42 billion) - attributed to Bloomberg - is fake, Twitter and a spokesman for the news and financial data provider said on Tuesday.

    Twitter shares jumped on the report, which was disseminated on the Internet and closely resembled Bloomberg's news website. Its origins could not be immediately established.

    Cyber-security experts said the fake website and report did not require a high level of skill. The domain name was registered anonymously and it may take months for the authorities to determine who created the site, said Rob Sadowski, director of technology solutions at cyber-security company RSA.

    The report appeared on a site named, rather than The account was suspended on Tuesday afternoon.

    Twitter options were heavily traded on Tuesday with overall options activity surging to 330,000 contracts, or more than twice the normal volume, according to Trade Alert data.

    The report came weeks after one of Twitter's earliest investors, Chris Sacca, said Twitter would be an "instant fit" for Google if it were to acquire the microblogging site.