Bloomberg Law
Aug. 28, 2020, 9:00 AM

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

Shelly Banjo
Shelly Banjo
Bloomberg News
Jenny Leonard
Jenny Leonard
Bloomberg News
Saleha Mohsin
Saleha Mohsin
Bloomberg News
Jennifer Jacobs
Jennifer Jacobs
Bloomberg News

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 ...

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