Japan’s SofBank to acquire UK’s Arm Holdings – FT

According to Financial Times, Japanese SoftBank has agreed to buy UK’s smartphone chip designer Arm Holdings for £24.3 billion. SoftBank will pay £17 in cash for each share of the Cambridge-based company, a 43% premium over last Friday’s close.

Arm keeps a key role in global chip design along with its earnings in US dollars, and the recent Brexit vote and the subsequent plunge of the British Pound have added extra value to the company.