I didn't claim that ARM lacked a case. My point was that acquiring another company's license is not in and of itself a "loophole", a word I find to be heavily abused. As you mentioned, the language of the particular licenses will dictate the outcome of this case. But as ARM has not as yet made those terms clear to the public, the most one can do is look at past behaviors and rule out certain arguments. My evaluation may change as more information becomes available.

And given the circumstances, ARMChair analysis is entirely appropriate.