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Author: Vladimir Mironenko
since the historic referendum on leaving the EU, and the subsequent record drop of the pound sterling, the UK has witnessed the largest one in the history of the sale of British technology companies. ARM Holdings has confirmed rumors about the plans of the Softbank Group on its acquisition.
Japanese telecommunications giant proposed a £24.3 billion ($31.4 billion) in cash for the purchase of ARM Holdings, that is £17 per share. It is 43% above the cost of the ARM share on the exchange as of July 15, 2016, and 41% more than the highest price the British company at the close of the exchange. In addition, the shareholders of ARM will receive an interim dividend of 3.78 pound per share.
the Cambridge-Based company ARM Holdings is a leading developer of processors for mobile devices. Suffice it to say that among her clients are market leaders Apple and Samsung. In addition to the iPhone, the British microchip company is used in 95 % of all released smartphones.
However, more Softbank attracted by the fact that ARM Holdings has an impressive portfolio of technologies for connected devices, including networking equipment of the Internet of things.
also Noteworthy is that Softbank took out a loan for 1 trillion yen to provide for the purchase of ARM Holdings. In addition, the Japanese group sold some valuable assets, including a stake in Chinese e-Commerce giant Alibaba Group Holding Ltd. $10 billion, and share of the Finnish games producer SuperCell Oy.
the Deal has already received the consent of the boards of Directors of both parties, which will recommend to vote for her shareholders. But its conclusion also requires regulatory approval.
ARM Holdings was founded in 1990. Currently the company has more than 3000 people.
Record ARM Holdings has confirmed the transition in ownership to Softbank for
£24.3 billion appeared first on 24allnews.ru.
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