SoftBank takeover UK technology giant ARM for £24billion

UK technology giant ARM  acquired by Japanese company SoftBank for £24billion. The company designs chips for phones and computers and is  situated as a pioneer  in the so-called ‘Internet of Things. SoftBank is offering  1,700p in cash per share or a 43 per cent premium to Friday’s closing price ,according to a statement Monday. The deal would be the greatest ever for SoftBank, which under Chairman Masayoshi Son got to be one of Japan’s most acquisitive companies with stakes in  Sprint Corp. and Alibaba Group.

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