China’s antitrust authority has announced a conditional approval for Nvidia’s (NVDA) highly anticipated $6.9B acquisition of Mellanox (MLNX). On the news Nvidia stock is currently up 4% in Thursday’s trading.Encouragingly the conditions only require the companies to not add bundles or other “unreasonable” requirements when selling devices in China.Following the reported approval, Bank of America analyst Vivek Arya reiterated his NVDA buy rating with a $340 price target (17% upside potential).“Our positive views on NVDA are based on its attractive organic prospects” he told investors.“However, we believe potentially adding highly complementary Mellanox high-performance computing/networking products could enhance NVDA’s critical data …read more
Source:: Yahoo Finance
