TikTok’s U.S. Business Acquisition Microsoft Has Been Rejected by Byte Jump

U.S. tech giant Microsoft said today that their proposed acquisition of TikTok has been rejected.

The Trump administration had previously set a deadline that the acquisition agreement must be completed by the 15th of this month or TikTok’s US business will be shut down.

Microsoft released a statement saying that the Beijing-based company informed them today that they will not sell TikTok’s U.S. business to Microsoft.

The statement said, “We are confident that our proposal would have benefited TikTok users while protecting national security.”