ARM Holdings boosted by Apple buy-out rumour resurfacing

British technology company ARM Holdings (LON:ARM) has blasted to the peak of the FTSE 100 risers chart this morning after rumours of a takeover bid from Apple have re-established again after the suggestion of a move from the makers of the iPod last surfaced back in April.

Rob Hull
shareprices.com - Thursday, June 10, 2010

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ARM Holdings designs microchips used in the Apple iPad and iPhone

ARM Holdings is the firm that designs the microchips used in Apples new iPad and iPhone 4.

Within the last week, the group has hit news pages after it joined six other technology heavyweights to make up the not-for-profit company, Linaro.

Made up of IBM, Samsung, Texas Instruments, Freescale Semiconductor, ST-Ericsson and ARM Holdings, Linaro was formed to promote the development of next generation devices including tablet computers and mobile phones based on Linux software.

The move by the six technology giants comes as a reaction to Nokia and Intel’s merger which was formed to advance a push into the mobile phone microchip market.

Investors have been encouraged by the formation of Linaro, but it’s the resurfacing of interest in Apple potentially buying the Cambrdige-based group that’s sparked the sharp spike in share price.

ARM Holdings' price at midday is 10.51 per cent up. However, at 10:42BST the shares had rocketed 32 per cent to a price of 302.80p – a gain of 88p – on the back of the rumour re-emerging.

Since the rumour a spokeswoman for ARM said the group had not received an approach and a takeover bid from Apple would not make sense.

Also making gains in the technology sector is fellow British group Imagination Technologies (IMG).

The share price for Imagination Technologies has gained almost 20p at midday, growing 7.8 per cent,

And at around the same time ARM Holdings had its price spike, Imagination Technologies posted a 14 per cent gain to put it to the heads of the FTSE 250 climbers.

The Technology Hardware and Equipment Sector Index is broadly higher as a whole as a result of the two headline performers.

 

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