Nvidia has today announced it will withdraw from its proposed deal with Arm. As a result, the Competition and Markets Authority (CMA) has confirmed it intends to cancel its investigation into the merger.
The Secretary of State for the Department for Digital, Culture, Media and Sport issued a public interest intervention notice about the merger under the Enterprise Act in April 2021.
The Secretary of State went on to refer the transaction to a Phase 2 investigation by the CMA in November 2021, based on national security and competition grounds.
As a result of Nvidia’s withdrawal today, the CMA will no longer submit a report to the DCMS Secretary of State and the investigation will discontinue.
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