Shares of Twitter slumped 9% late on Wednesday after Recode reported that Google, owned by Alphabet, would not move forward with a bid to acquire the social network.
Twitter has told potential buyers it wants to conclude negotiations about selling itself by the time it reports third-quarter earnings on Oct. 27, people familiar with the matter told Reuters.
Twitter's stock (twtr) was last down 9.21% in after-hours trade at $22.58.
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The company has struggled to generate revenue growth and profit, despite having some 313 million average monthly active users and a growing presence as a source of news.