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4w ago

Amazon Submits Late Bid to Acquire TikTok as U.S. Ban Looms

The bid, delivered days before the April 5 deadline, is reportedly not being taken seriously by key stakeholders involved in the divestment negotiations.

TikTok app logo is seen in this illustration taken, August 22, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
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Overview

  • Amazon sent an offer letter to Vice President JD Vance and Commerce Secretary Howard Lutnick, proposing to acquire TikTok from ByteDance.
  • The bid arrives just days before the deadline for TikTok to divest from its Chinese owners or face a U.S. ban, as mandated by federal law.
  • Sources indicate that Amazon’s bid is not being seriously considered by the Trump administration or other parties involved in the negotiations.
  • President Trump is meeting with senior officials to evaluate proposals, with the possibility of extending the deadline if a deal is not finalized by April 5.
  • The Chinese government’s approval remains a significant obstacle, with Beijing potentially blocking any sale to maintain control over TikTok’s algorithm.