SoftBank is set to buy ARM for
.9 billion, report says
Japanese telecoms conglomerate
SoftBank is ready to buy British chip giant ARM for a cool 23.4 billion pounds ($30.9 billion).
The
Financial Times reported the news in the early hours of Monday, citing two people close to the negotiations.
If it goes through, the deal will be the largest ever acquisition of a European tech company, **ted the
FT.
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The deal will value ARM, which boasts 4,000 employees, at a 43 percent premium above its closing price last week. ARM's market cap stood at 16.7 billion pounds ($22 billion) on Friday.*
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