Microsoft Corporation (NASDAQ:MSFT) is reportedly submit a bid for social media company Twitter Inc (NYSE:TWTR), CNBC reported.

Twitter has been facing a lot of problems including slow user growth and executives’ departure. The company’s fell nearly 8% during the last 12 months.

Reports claim that Twitter is talks with a number of technology companies to sell itself. Reuters reported that the potential suitors include Google parent Alphabet, Salesforce.com, Walt Disney and Microsoft.

The company is expected to receive a formal bid soon. Walt Disney is working with a financial adviser to evaluate a possible bid for Twitter, Bloomberg News reported citing people familiar with the matter.

Salesforce is reportedly working with Bank of America on a potential bid, a Bloomberg report on Monday said.

On Closing Bell, CNBC’s David Faber reported that Twitter is moving closer to a formal sale process for the company, according to sources familiar with the matter.

Citing sources, CNBC said that Facebook is not likely to have an interest in the social network.

According to the CNBC report, a sale could occur in the next 30 to 45 days.

Microsoft spokeswoman said that the company has nothing to share at this moment.

Why Twitter is up for sale

As we reported earlier, Twitter may be up for sale as one of the strategies to save the business. The social media company has been struggling to maintain attractive revenues and keep up with the social  media competition. Its two main competitors are Snapchat and Facebook.

Twitter is one of the most popular social media platforms but the firm has slowly been losing its appeal as people jump onto other innovative platforms.