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Salesforce officially backs out from Twitter acquisition

Salesforce.com backed out from its bid to acquire Twitter, a report from Financial Times said.

“In this case, we’ve walked away. It wasn’t the right fit for us,” Marc Benioff, CEO of Salesforce.

Salesforce shareholders are said to be resisting the move due to the strategic merits and valuation of such a deal.

Other potential bidders like Walt Disney and Google are also said to have backed away from making offers for the social media company.

(Photo Source: content.trust.salesforce.com / brand.twitter.com)