SK Hynix CEO says reviewing forming consortium to acquire Arm

SK Hynix CEO says reviewing forming consortium to acquire Arm

Arm IPO planned for US$60 billion.

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South Korean chipmaker SK Hynix's CEO said that it is considering forming a consortium with strategic investors to acquire British semiconductor company Arm, Yonhap news agency reported.

"I don't believe Arm is a company that could be bought by one company," Yonhap cited SK Hynix Vice Chairman and co-CEO Park Jung-ho as saying.

Park's remarks mean a theoretical review as part of a response to a press query after SK Hynix's annual shareholder's meeting and do not refer to a specific plan or any ongoing review, SK Hynix said in a statement.

Arm did not have an immediate comment.

SoftBank Group is planning to pick Goldman Sachs as the lead underwriter on the initial public offering (IPO) of Arm that could value it at as much as US$60 billion, sources told Reuters earlier.

SoftBank has said it will likely list Arm on Nasdaq by March 2023.

The IPO preparations come after SoftBank's deal to sell Arm to Nvidia for US$40 billion was scuppered last month due to objections from US and European antitrust regulators.

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