April 2 - Amazon (NASDAQ:AMZN) has submitted a late bid to acquire TikTok just days before the mandated sale deadline, according to The New York Times. A formal proposal was sent to Vice President JD Vance and Commerce Secretary Howard Lutnick.
Despite Amazon's entry, sources indicate that the bid is not being taken seriously by key stakeholders involved in the discussions. Concerns over national security have fueled the forced sale, with lawmakers from both parties pushing for divestment due to TikTok's Chinese ownership.
The deadline was initially set under a legislative mandate but was delayed by President Donald Trump until April 5. He is expected to meet with White House officials later on Thursday to discuss the app's future.
Other interested parties include Oracle (NYSE:ORCL), Rumble (NASDAQ:RUM), and an investor group led by former Treasury Secretary Steven Mnuchin. Additionally, billionaire real estate developer Frank McCourt and investor Kevin O'Leary have joined forces under The People's Bid for TikTok. Microsoft (NASDAQ:MSFT) and Walmart (NYSE:WMT) previously explored a deal for the platform in 2020.
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