Home Business News Nvidia asks Chinese regulators to approve $40 billion Arm deal

Nvidia asks Chinese regulators to approve $40 billion Arm deal

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

(Reuters) – Nvidia Corp has applied to Chinese competition regulators to consider a $40 billion acquisition of British chip designer Arm, the Financial Times reported on Tuesday, citing people familiar with the matter. people familiar with the matter.

As reported by FT https://on.ft.com/3w4hY8j, the application has been launched in recent weeks and could take up to 18 months.

Nvidia (NASDAQ:) said last month it expected to close its Arm acquisition in March 2022, after reaching an agreement with SoftBank Group in September 2020.

Meanwhile, the Japanese conglomerate is in talks with banks to borrow about $7.5 billion in connection with the Arm sale, Bloomberg News reported https://bloom.bg/3cps3Fk on Tuesday, citing the source, with Mizuho Bank Ltd coordinating the deal.

In February, Bloomberg reported that the US Federal Trade Commission had opened an in-depth investigation into Nvidia’s Arm deal.

Nvidia CEO Jensen Huang told the Financial Times last month that the US chip company had “started the process” of engaging with Chinese regulators and was confident that the deal would be finalized within a few days. timeframe set by Nvidia.

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