Twitter shares spike amid Google takeover reports

They rose by as much as 21%...

Twitter shares spike amid Google takeover reports

Picture by: Twitter / PA Wire/Press Association Images

Twitter shares caught fire today as reports circulated claiming that the mico-blogging site is set to be subject to a takeover attempt from Google, Salesforce, or another firm.

Stocks surged by 21% after CNBC reported that the company has "received expressions of interest from several technology or media companies and may receive a formal bid shortly."

Before today the company's shares had fallen by 30% in the last year as the social network has struggled to attract new users, while newer social apps have eaten into its screentime.

The US network says that its sources close to the situation claim that Twitter's board of directors have been open to the sale and that while no deal is imminent it may happen before the end of this year.

None of the parties involved have commented on the reports.

Cloud service firm Salesforce attempted to buy LinkdIn - but lost out to Microsoft who bought the networking site for $26.2bn.

Its chief digital strategist tweeted:

 In July Twitter posted quarterly revenue of $602 million, up 20% year-over-year.