President Trump will be briefed Wednesday on the contours of a proposal to keep TikTok operational ahead of a pending U.S. deadline to sell or shut it down, according to people familiar with the matter.

Under the framework the president is expected to review, cloud computing company Oracle, along with several others, would join with existing U.S. investors to make an offer to TikTok-owner ByteDance, some of the people said. Blackstone is among the investors in talks to potentially participate in a deal, the people said.