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Nvidia asks Chinese regulators to approve $40-B Arm deal – report

Reuters
Nvidia asks Chinese regulators to approve $40-B Arm deal – report
The approval application was made in recent weeks and sets in motion a period of scrutiny that could take up to 18 months, Chinese antitrust lawyers say

Nvidia has submitted an application to Chinese competition regulators to review a $40 billion takeover of UK chip designer Arm, the Financial Times reported on Tuesday, June 8, 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 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. – Rappler.com