NEW YORK: Nvidia may not be able to meet a March 2022 deadline for closing its US$40 billion acquisition of British chip technology firm Arm due to European regulators' reluctance to consider the case until after the summer holidays, people familiar with the matter told Reuters.
Nvidia has not yet filed an application to clear the deal with the European Commission. Officials there have made it clear to the company that they need until September to gather enough information to accept Nvidia's formal application for approval, according to three people familiar with the matter.
The US Federal Trade Commission has been gathering information about the deal, people familiar with the matter told Reuters. Nvidia has filed approval of the deal in China, the Financial Times reported last week.In a statement, Nvidia said that “many jurisdictions have a pre-notification period, where the parties have a detailed and ongoing dialogue with regulators. Our discussions with regulators have been thorough and constructive.
One regulatory attorney who has worked on European deals said a move to file before regulators have signalled they are ready to act on the application would be"suicidal" for Nvidia's good relations with European regulators.
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