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UPDATE 1-SoftBank nears deal to sell Arm Holdings to Nvidia for more than $40 bln - WSJ

Sat, 12th Sep 2020 18:03

(Adds details from the WSJ report)

Sept 12 (Reuters) - SoftBank Group Corp is nearing
a deal to sell British chip designer Arm Holdings to Nvidia Corp
for more than $40 billion, the Wall Street Journal
reported https://on.wsj.com/2Rlv7HC on Saturday, citing sources.

The cash-and-stock deal could be sealed early next week and
would value Arm in the low $40 billions, the Journal report
said.

The terms would mark a big win for SoftBank, which bought
Arm for $32 billion in 2016 and had struggled to jump-start
growth in the business, the report added.

SoftBank, Arm and Nvidia did not immediately respond to
Reuters' requests for comments.
(Reporting by Shubham Kalia; editing by Diane Craft and Chizu
Nomiyama)

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