Nvidia/Arm: National security concerns unlikely to be tested

The announcement by Nvidia and Arm to terminate the proposed transaction means the various regulatory processes to which the transaction was subject will no longer be relevant and so themselves be terminated. This means we will likely never know the details of the Competition and Markets Authority's report to the UK's Secretary of State, nor the latter's final view on whether the transaction raised a national security concern. The Secretary of State published a summary of the CMA's report but that only brief describes the competition issues.

The article in today's Financial Times identifies a public listing (IPO) is a very possible exit route for Arm's owner, SoftBank. As an earlier FT article noted, it would be ironic if the listing occurred in New York, thus turning a claimed UK national strategic asset into a US listed company.  


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