Nvidia (NASDAQ:NVDA) has decided to end its planned Arm acquisition at a board meeting held on Monday, per a report in the Financial Times. Softbank, Arm’s current owner, is expected to receive a $1.25 billion breakup fee.
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The acquisition faced backlash from regulators with the U.S. Federal Trade Commission suing to stop the transaction back in December. The deal also faced resistance in China, the UK, and Europe.
Nvidia stock didn’t react negatively to the news, remaining roughly flat in after-hours trading on Monday, as the markets had likely assigned a low probability that the deal would materialize.
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