The $40bn (£30bn) US takeover of Arm Holdings, one of Britain’s biggest tech firms, has collapsed in the face of opposition from regulators.
Authorities in the UK, US and EU raised concerns over its impact on competition in the global semiconductor industry, the Financial Times reported.
It also said that Arm, based in Cambridge, may face a management reshuffle. It is understood that Rene Haas, head of the company’s intellectual property unit, could replace chief executive Simon Segars.
US chipmaker Nvidia will now have to pay a break-up fee of up to $1.25bn to the seller, Japan’s SoftBank, which is expected to seek an initial public offering to unload Arm, according to the report.
Lots of bureaucrats stuck their oar in. How cool, eh?
And to achieve what? It’s been a what, 2 year process? So, hugely limiting change – and the speed of change is, by definition, the speed of economic growth – to get to, umm, well.
That’s the point, isn’t it? What has actually been reached by this intervention?