Although Twitter has been working hard to regain its lost position in the social media space, reports suggest that its quiet summer may soon come to an end and it may soon be on the block.

The social communication company's directors are scheduled to meet on Thursday in San Francisco to discuss its fate as a standalone company, Re/Code reported on Wednesday.

Twitter has been the subject of numerous takeover and acquisition rumours over the last few months with giants like Google and Apple said to be interested.

"There are the big corporate names that might take another close look at Twitter, such as Google, Apple and even media mogul Rupert Murdoch, either via 21st Century Fox or News Corp," the report said.

Other possible bidders include private equity firms that may want to take the company private, where it can solve some of its issues out of the public eye.

Recently, co-founder and board member Evan Williams said that Twitter needs to "consider the right options" when it comes to its future as an independent company. Twitter's stock jumped almost six per cent after he made these remarks.

According to the report, a Twitter buyer may have to fork out over $18 billion to buy the company. 

As of June 30, Twitter still had 3,860 employees and paid out $168 million in stock-based compensation last quarter alone, an amount equal to roughly 28 per cent of its quarterly revenue.