CNBC survey: CFOs say this is time for deal-making

As Walmart says it's teaming up with Microsoft in the ongoing race to acquire TikTok, a new survey from CNBC finds most CFOs believe this is, in fact, the time for companies to be striking such deals, rather than preserving cash, CNBC reported on Aug 28.

According to a new survey, 65 percent of CNBC Global CFO Council members say they disagree that "this is no time for deal-making," and also disagree that "companies should be preserving cash." The response was largely driven by the more than two-thirds of EMEA CFOs and half of APAC CFOs who disagreed with the statements.

As per CNBC, the survey findings come as TikTok's Beijing-based parent company, ByteDance, is nearing an agreement to sell its US, Canadian, Australian and New Zealand operations in a deal likely to be in the $20 to $30 billion range, according to sources.

CNBC also said Oracle is competing with Microsoft and Walmart to acquire the tech company. And while TikTok may be the most high-profile and dramatic deal in the news, Refinitiv data shows more than 1,000 deals were signed in Asia-Pacific for the month of July, compared to 850 in the US and 816 in Europe.