We already know that Microsoft is in talks to acquire TikTok's business in the US, but that's not the only major company interested in buying the hugely popular app.

Walmart confirmed today that it's teaming up with Microsoft to try to buy TikTok in the US. In a statement to CNBC, Walmart said that it sees an acquisition of TikTok's US business as "an important way for us to reach and serve omnichannel customers as well as grow our third-party marketplace and advertising businesses."

The mega retailer explained that it sees TikTok's integration of e-commerce and advertising as a "clear benefit" to both creators and users in other markets.

"We are confident that a Walmart and Microsoft partnership would meet both the expectations of US TikTok users while satisfying the concerns of US government regulators," Walmart said.

President Trump has come out against TikTok over the past few weeks, first issuing an executive order to ban TikTok in the US by September 20. More recently, Trump ordered that TikTok's US business must be sold by November 12, saying that there is "credible evidence" that TikTok owner and Chinese company ByteDance "might take action that threatens to impair the national security of the United States."

Microsoft confirmed earlier this month that it's in discussions to buy TikTok's business in the US. At the time, Microsoft said it planned to move the talks along quickly with the goal of finishing them by September 15. 

Now that Walmart is teaming up with Microsoft on a bid for TikTok, it's unclear when or if a deal will actually be done. Sources speaking to CNBC say that TikTok is close to an agreement to sell its businesses in the US, Canada, Australia, and New Zealand and that an announcement could happen in the coming days. The deal is said to be worth $20 billion to $30 billion.