18th Jul 2016 05:33
LONDON (Alliance News) - UK chipmaker ARM Holdings PLC is set to be acquired by Japan's SoftBank Corp in a GBP23.4 billion deal, the Financial Times reported.
ARM, founded in Cambridge around a quarter of a century ago and one of the UK's major technology-sector success stories, is set to confirm its agreement to SoftBank offer on Monday morning, the FT said, citing two people familiar with the negotiations.
The price would represent a 50% premium to Arm's closing price on Friday and would make a major bet by SoftBank that RM will make it a leader in the emerging internet of things segment.
https://next.ft.com/content/235b1af4-4c7f-11e6-8172-e39ecd3b86fc
ARM closed Friday at 1,188.73 pence per share, giving it a market capitalisation of GBP16.73 billion.
By Sam Unsted; [email protected]; @SamUAtAlliance
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