Twitter has no more suitors as Salesforce bows out of buyout talks

Twitter's fate is in the doldrums yet again as Salesforce, the front running company that was looking to bid for the social media giant, has backed out from making any offer.

"In this case we've walked away. It wasn't the right fit for us," Marc Benioff, chief executive of Salesforce, told the Financial Times.

The Salesforce boss is reported to have pulled the plug on the bid after coming under pressure from his company shareholders, who questioned the match between the social media company and the enterprise technology firm.

Even though Benioff is said to have been keen on the bid and tried to calm his investors at an analyst meeting late week, the final decision by the Salesforce board was not to pursue this any further.

One of the speculations in the market regarding Twitter's difficulty with its sale is its asking price. Benioff, however, thinks for Salesforce the decision to back out went beyond the pricing.

"It's not the right fit for us for many different reasons," said Benioff. "You're going to look at price, you're going to look at culture, you're going to look at everything," he added.

With Salesforce bowing out Twitter is left with no potential suitors as Google and Disney that were earlier considering bids for the micro-blogging site had already pulled out of the race early last week. The development puts a dent of Twitter's plans which hoped to have acquisition bids finalised by the end of October.