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Benzinga

Business

Anusuya Lahiri

South Korean Chipmaker Weighs Arm Takeover Options

SoftBank Nasdaq SK Hynix SoftBank Group Nvidia Corp SK Hynix Inc SoftBank Group Corp Yonhap News Agency

South Korean chipmaker SK Hynix Inc (OTC:HXSCL) CEO admitted to weighing a consortium to acquire British semiconductor company Arm Ltd, Reuters reports citing Yonhap news agency.
“I don’t believe Arm is a company that could be bought by one company,” SK Hynix Vice-Chair and co-CEO Park Jung-ho admitted, FX Empire reports.
SoftBank Group Corp (OTC: SFTBY) (OTC: SFTBF) looked to list Arm on Nasdaq by March 2023 via an IPO worth $60 billion.
Recently SoftBank’s deal to sell Arm to Nvidia Corp (NASDAQ:NVDA) fell flat due to global regulatory opposition.
Arm looked to transfer its Chinese joint venture shares to a SoftBank Group special purpose vehicle to speed up its IPO.

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