(Bloomberg) — The Treasury Department, TikTok owner Bytedance Ltd. and Oracle Corp. have tentatively agreed to terms for Oracle’s bid for the U.S. operations of the social-media service, according to people familiar with the matter.Treasury Secretary Steven Mnuchin sent Bytedance a revised terms sheet late Wednesday and the company and Oracle accepted it, the people said. They described the changes as addressing national security concerns about the transaction and asked not to be identified because of the sensitivity of the matter.Bytedance is trying to win U.S. approval for a transaction with Oracle that would leave the Chinese-headquartered parent company with …read more
Source:: Yahoo Finance
