TikTok’s complaint against the Trump administration by TikTok’s overseas version showed that even before U.S. President Trump intervened, Microsoft’s bid for TikTok’s US business had come to sign with TikTok’s parent company. Binding letter of intent”. The letter of intent is generally an agreement signed between companies before the due diligence of the acquisition, indicating that the negotiation has entered an advanced stage.
Legend: TikTok has long signed a letter of intent with Microsoft
According to the indictment, ByteDance and Microsoft signed this letter of intent on July 30 this year, considering that Microsoft may acquire TikTok’s US business and become a trusted technology partner of TikTok’s US business. However, just a day later, US media reported on July 31 that Trump planned to order ByteDance to divest its TikTok US business shares. Soon after, the media reported that Microsoft intends to acquire TikTok’s US business. Then, Microsoft confirmed this acquisition intention.
TikTok claimed in the indictment that before Trump’s banning plan was exposed, its parent company ByteDance had signed a preliminary agreement with Microsoft to allow TikTok to continue operating in the United States without being subject to Trump’s executive order . This shows that Microsoft’s attempt to acquire TikTok’s US business has been working for some time.
Microsoft declined to comment. TikTok has not yet commented.
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