Graphics processing unit manufacturer Nvidia Corp submitted an application to Chinese competition regulators for the review of the company’s proposed takeover of the United Kingdom-based chip designer Arm. The deal, worth approximately $40 billion, could take up to 18 months to be processed depending on the length of the review period, Chinese antitrust lawyers revealed.
Nvidia Corp employees revealed that the company intends to seal the takeover deal by March 2022. This will be the second major acquisition carried out by the multinational tech company, with the Santa Clara, California-based corporation previously completing a deal with the Japanese conglomerate holding company SoftBank Group back in September of last year.
While Nvidia seeks to complete its multi-billion-dollar acquisition, SoftBank Group is seeking a loan of about $7.5 billion, with Mizuho Bank Ltd coordinating the deal. The Japanese company is currently in talks with multiple banks in connection with the loan, which happens to be tied to the Arm takeover.
Nvidia’s application for the review of the takeover comes after the company’s proposed acquisition of Arm was investigated by the U.S. Federal Trade Commission, as reported back in February.
