Japanese mobile operator SoftBank Group Corporation buys the british corporation – ARM Holdings Plc for 24.3 billion pounds ($ 32 billion). According to SoftBank, shareholders ARM Holdings could receive 1700 pence per share, which is 43% more than the value of the securities at the close of trading in London on Friday.
Price of ARM shares rose by 45% since the beginning of the session on the London Stock Exchange (LSE) on Monday.
The deal would be the largest in the history of SoftBank, which under the control of chairman of the board of directors Masayoshi Sonia has become one of the most active companies in the Japanese M & A market. The operator is investing in the Internet startups in India and China, mobile services in Japan and the US, and also owns stakes in US Sprint Corp. and China’s Alibaba Group Holding Ltd.
Decision of Great Britain to withdraw from the European Union (Brexit) led to a decline of the pound, and increased the attractiveness of British companies to foreign buyers. Analysts say that the weakening of the pound had affected the timing of the transaction SoftBank and ARM.
The Japanese corporation has promised to leave the same the ARM headquarters in Cambridge, do not to change the top management of the British company, and double the number of the employees in the UK, in the next five years.
The acquisition will be financed through liquidity reserves SoftBank and borrowed funds.
ARM shareholders will receive a special dividend of 3.78 pence per share.
ARM Ltd. – British Corporation, one of the largest developers of 32-bit of RISC-processors (ARM), targeted for use in portable and mobile devices (phones, organizers, etc.).
SoftBank Group – telecommunication and media corporation, operates in the field of broadband Internet access, local and mobile telephony, marketing, finance, etc. The third largest mobile operator in Japan. Under the brand SoftBank operates more than 600 companies in the telecommunications market.
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