The Big Dilemma Facing ByteDance’s U.S. Investors

What’s next for ByteDance’s U.S. investors? As Beijing makes it increasingly clear that it opposes efforts by Congress to force TikTok’s Chinese parent company, ByteDance, to sell the popular video app — government officials in China said American lawmakers were acting like a “bandit” — the tech giant’s U.S. backers are increasingly finding themselves in a quandary. DealBook has spoken with people in the know about what these investors, including financial giants like the Susquehanna International Group, can do, with billions of dollars on the line. A potential takeover bid...