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Microsoft, Walmart Offer Joint TikTok Bid, Vying With Oracle
- Deal to sell U.S. operations could be reached within the week
- Sudden departure of CEO Kevin Mayer signals imminent agreement
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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.