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Twitter shares rise on speculation of Google acquisition

People are silhouetted as they pose with laptops in front of a screen projected with a Google logo, in this picture illustration taken in 2014.

Dado Ruvic/Reuters

Twitter Inc. rose 3.3 per cent on unsubstantiated speculation of an acquisition by Google Inc.

Shares of the San Francisco-based microblogging company increased to $39.07 at the close in New York.

Twitter, which reports quarterly results next month, has also previously moved on chatter about chief executive officer turnover, alleged interest from activist investors and speculation of other potential takeovers.

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Robert Peck, an analyst with SunTrust Robinson Humphrey, told CNBC Thursday that the acquisition theory was "difficult but not impossible."

Jim Prosser, a spokesman for Twitter, and Tim Drinan, a spokesman for Google, said they had no comment on rumours or speculation.

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