Welcome

Microsoft, Walmart Offer Joint TikTok Bid, Vying With Oracle (4)

Aug. 28, 2020, 9:00 AM

Microsoft Corp. is teaming up with Walmart Inc. in a contest against Oracle Corp. to buy the U.S. assets of the popular video-sharing app TikTok from China’s ByteDance Ltd.

Oracle and Microsoft, with its new partner, both submitted bids in a deal that could come within the week, according to people familiar with the deliberations. Walmart would also own a stake in a newly spun off TikTok business, alongside Microsoft, the people said.

Competing offers have been made in what augurs the closing process of a deal, although it will take longer for final details to be worked out, one ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.