STOCK TALK

Stock Talk: Tik Tok Acquisition

$ORCL one surprising winner.

After a long month between the US and Tik-Tok, it seems that the US finally has a buyer. To make things short, President Donald Trump issued a ban on Tik Tok around a month ago. To be exact, they had until September 15 to be purchased by another company. In order for the Chinese company to not get banned, they would need to be bought out by an American company. Soon right after that, many investors had rumors that companies such as $FB or $AMZN would purchase the company. The first company to announce interest in purchasing the company was $MSFT. Share price for the stock went up after announcing interests in purchasing Tik Tok. Then couple other companies $ORCL and $WMT also announced interests in purchasing the company. $ORCL was a very interesting choice. Same for $WMT. The only company that I could really see benefit from buying Tik Tok was $MSFT. It kinda made sense since $MSFT has a history of technological advances throughout the years.

Well, today we got some surprising news about Tik-Tok. It had seemed that $ORCL ended up winning the bid. With Tik-Tok rejecting $MSFT, it was only right for them to head on over and accept a deal with $ORCL.

Sources:

https://www.theguardian.com/technology/2020/sep/14/tiktok-bytedance-to-partner-with-oracle-in-us-after-rejecting-microsoft-bid

https://www.wsj.com/articles/microsoft-drops-out-of-bidding-for-tiktoks-u-s-operations-11600039821

https://www.reuters.com/article/us-china-bytedance-tiktok-cgtn/bytedance-wont-sell-tiktok-u-s-operations-to-oracle-or-microsoft-cgtn-idUSKBN2650MC

https://www.cnn.com/2020/09/13/tech/microsoft-tiktok-bytedance/index.html

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