Walmart And Microsoft Team Up On Potential TikTok Bid

Law360 (August 27, 2020, 5:09 PM EDT) -- Walmart is teaming up with Microsoft to try to buy Chinese-owned social media app TikTok, saying Thursday that such an acquisition would allow TikTok users to continue enjoying the short-form video platform while alleviating the U.S. government's privacy concerns.

Walmart Inc. confirmed in a statement to Law360 that it is working with Microsoft Corp. on a potential deal for TikTok, which must be sold by Chinese parent ByteDance Ltd. to a U.S. buyer before the end of next month or face consequences from the federal government under an order unveiled by President Donald Trump earlier this month. That order was issued...

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