- NVIDIA Corp (NASDAQ:NVDA) made early undisclosed concessions to European Union regulators examining its bid for SoftBank Group Corp (OTC:SFTBY) (OTC:SFTBF) owned chip developer Arm Ltd, Bloomberg reports.
- The $54 billion deal sparked concerns in the semiconductor industry over whether Arm could remain a neutral player licensing intellectual property to customers and rivals, Reuters reports.
- Arm customers like Qualcomm Inc (NASDAQ: QCOM), Samsung Electronics Co Ltd (OTC: SSNLF), and Apple Inc (NASDAQ: AAPL) opposed the deal.
- The EU extended its deadline to rule on the deal until October 27. The EU is likely to extend its review by at least another four months.
- Lengthy regulatory reviews look set to see the company miss its initial target to close in March 2022, which could extend until September.
- “We are working through the regulatory process, and we look forward to engaging with the European Commission to address any concerns they may have,” Nvidia emailed. “This transaction will be beneficial to Arm, its licensees, competition, and the industry.
- Price Action: NVDA shares traded lower by 1.40% at $201.65 in the premarket session on the last check Wednesday.
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