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Twitter shares are flying on these latest takeover reports

Lynsey Barber
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Feathers flying... like Twitter's share price
A buyer for Twitter could step forward this week (Source: Getty)

Twitter shares have taken off again after fresh reports emerged on the progress of potential sale of a the struggling social network.

Shares shot up more than four per cent touching as high a $24.83 in early trading in New York, after it was reported that bids for the company could begin as soon as this week.

Read more: Is Twitter becoming a broadcaster?

Salesforce boss Marc Benioff is keen on acquiring the company after losing out on LinkedIn to Microsoft earlier this year, the Wall Street Journal reports.

Shares in Salesforce dived as much as seven per cent indicating little investor appetite for such as deal.

Also said to be considering an offer for Twitter is Google parent Alphabet and Disney, while Microsoft and Verizon have also been connected with a potential bid.

"To make a success of Twitter the buyer has to find a way to combine Twitter with its existing business to enable Twitter user numbers and revenue to begin growing again," said Edison Investment Research analyst Richard Windsor.

"This will be much harder than it sounds and we suspect that those who are more familiar with this industry are likely to have a look and then decline to bid. Hence, if Twitter is to be sold, it is likely to go to a newcomer in this space such as a broadcaster or perhaps Disney if it can work out why it would need this asset."

Read more: Twitter's share price has jumped on reports of Disney interest

Twitter is due to report its latest earnings for the third quarter in three weeks time.

Twitter shares have been on a run over the summer, yo-yoing on increasing speculation of a takeover over the past several months. It smashed past the $24 mark this week for the first time in almost 11 months.

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