A flurry of M&A activity sees Nvidia buy Arm for $40bn, Gilead acquire Immunomedics for $21bn, GardaWorld fight for G4S and TikTok team up with Oracle

2.45pm BST

Back in London, G4S has hit back at Garda World’s takeover bid, saying it “significantly undervalues” it.

In a statement to the City, G4S says it unanimously rejected the three approaches from GardaWorld, and adds that “the timing of the proposal is highly opportunistic, coming as it does at a time of severe turbulence in global financial markets.

2.41pm BST

Shares in Nvidia have jumped sharply in early trading, up over 6% at $517.

They’re now up over 120% since the start of the year, lifted by the wider rally into tech stocks.

Nvidia shares up 8% so that pays for most of the Arm deal

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