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Palo Alto Networks Inc. Earnings (PANW)
7:15 PM IST: Markit Composite Manufacturing & Services PMI
7:30 PM IST: Existing Home Sales
​​🚩 NVIDIA: No More ARM-Twisting?
UK’s Competition and Markets Authority (CMA) has put a spoke in the wheel of NVIDIA’s (NVDA) acquisition plans. At issue is NVIDIA’s proposed deal to acquire ARM for $40B. The long list of companies that have opposed this deal is no doubt cheering this news.
Given the uncertainty with regulatory approvals, the company, which was hoping to wrap up the acquisition by March 2022, is now unsure about the time frame. Speculation is now rife that Softbank may opt to take ARM public by itself instead of dealing with the complexities thrown up by this proposed sale.Â
Markets don’t like uncertainty. And the massive opposition to the ARM deal had triggered enough uncertainty among the ranks of NVIDIA’s shareholders. No sooner than the UK government’s opposition to the deal was made public, it seems like the shareholders heaved a sigh of relief that the distraction would soon come to an end.Â
So while NVIDIA’s management is still fighting to stay relevant in this discussion, the shares rallied more than 5%. This reaction begs the question: Who’s ARM-twisting whom?
Market Reaction
NVDA ended at $208.16, up 5.14%.
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