Decision Scrapping Nvidia’s Arm Buy Will ‘Preserve Competition’: FTC
The Nvidia-SoftBank agreement last week to terminate Nvidia’s proposed $40 billion Arm buy because of regulatory hurdles (see 2202080003) “will preserve competition for key technologies and safeguard future innovation,” said FTC Bureau of Competition Director Holly Vedova in a statement…
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Monday. “This result is particularly significant because it represents the first abandonment of a litigated vertical merger in many years.” The FTC sued Dec. 2 to block the transaction, saying the combined firm would “stifle competing next-generation technologies.” FTC attorneys, with Nvidia and SoftBank lawyers, filed a joint motion at the commission Feb. 8 to dismiss the complaint, saying the decision to terminate the proposed deal rendered the litigation “now moot.”