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Nvidia asks Chinese regulators to approve US$40 billion Arm deal - FT

Nvidia Corp has submitted an application to Chinese competition regulators to review a US$40 billion takeover of UK chip designer Arm, the Financial Times reported on Tuesday, citing people familiar with the matter.

The logo of technology company Nvidia is seen at its headquarters in Santa Clara
FILE PHOTO: The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. REUTERS/Robert Galbraith

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REUTERS: Nvidia Corp has submitted an application to Chinese competition regulators to review a US$40 billion takeover of UK chip designer Arm, the Financial Times reported on Tuesday, citing people familiar with the matter.

The application was made in recent weeks and sets in motion a period of scrutiny that could take up to 18 months, according to Chinese antitrust lawyers, the report https://on.ft.com/3w4hY8j added.

Nvidia said last month it expects to close the Arm acquisition by March 2022, after having struck a deal with Japan's SoftBank Group in September 2020.

In February, Bloomberg News reported that the U.S. Federal Trade Commission had opened an in-depth probe into Nvidia's agreement to buy Arm.

(Reporting by Nandakumar D and Kanishka Singh in Bengaluru; Editing by Ramakrishnan M.)

Source: Reuters