Twitter shares jump 8.6% on Silver Lake deal speculation
Report suggests investor Marc Andreessen and private equity firm have struck a deal
Twitter shares rose to as high as $18.25 in trading before the official market opened in New York
Twitter shares jumped as much as 8.6 per cent in early trading on Monday after a report in The Information said investor Marc Andreessen and private equity firm Silver Lake have “considered some sort of deal.”
The Information said it didn’t know if a deal is “active” now.
Spokespeople for Mr Andreessen and Silver Lake declined to comment to the news site.
Twitter shares rose to as high as $18.25 in trading before the official market opened in New York.
Twitter is in the midst of a major overhaul to help boost growth that has stalled and led to a 35 per cent decline in its share price last year.
In January, four executives departed, including the product and engineering chief. The social media company named a new chief marketing officer, Leslie Berland, formerly of American Express, and is expected to appoint two new board members soon.