A big win for Microsoft’s Activision deal
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 12 July 2023
⏱️ 11 minutes
🧾️ Download transcript
Summary
Jeremy Hunt has ordered ministers to find more than £2bn to fund public sector pay rises this year, JPMorgan is trying to scoop up Silicon Valley Bank’s clients, and a US court denies a watchdog’s request to block the Microsoft-Activision merger
Mentioned in this podcast:
Nvidia in talks to be an anchor investor in Arm IPO
JPMorgan hires dozens of start-up bankers to capitalise on SVB collapse
US judge denies FTC attempt to block Microsoft’s Activision deal
Behind the Money: Frances Haugen’s lessons as a Facebook whistleblower
JPMorgan expands startup banking team abroad with ex-SVB hires
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. Additional help from Monica Lopez, Katie McMurran, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:12.0 | Good morning from the Financial Times. |
| 0:13.6 | Today is Wednesday, July 12. |
| 0:15.6 | And this is your FT News Briefing. |
| 0:18.4 | The UK wants to give the public sector a raise, but it's got to find the money first. |
| 0:23.7 | And JP Morgan wants Silicon Valley Banks former clients. |
| 0:27.9 | Plus, Microsoft's $75 billion dollar deal to pick up Activision just got a big boost. |
| 0:34.6 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:46.5 | In video, may you get another shot to get a piece of the soft bank owned chip designer, |
| 0:51.2 | ARM. The world's most valuable semiconductor company was forced last year to abandon its |
| 0:56.5 | billion dollar acquisition of ARM after regulators challenged the deal. |
| 1:00.6 | Now, sources tell the FT ARM is in talks to bring in Nvidia as an anchor investor for its IPO, |
| 1:06.8 | ARM is planning a New York listing as soon as September. |
| 1:10.4 | Perspective investors are still negotiating with ARM over its valuation. |
| 1:14.1 | One source said Nvidia wanted to come in at a share price that would put ARM's total value |
| 1:18.9 | at between 35 billion and 40 billion dollars while ARM wants about double that. |
| 1:27.2 | Microsoft is a few steps closer to buying the video game giant Activision Blizzard. |
| 1:35.2 | Federal judge in the US came out with a ruling yesterday saying that the Federal Trade Commission |
| 1:39.7 | can't stop the deal. The UK's competition and markets authority also said yesterday it was open |
| 1:45.6 | to discussing the $75 billion merger even though the watchdog had blocked it back in April. |
| 1:51.6 | Activision investors were happy about this, shares closed up 10% on Tuesday. |
... |
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