ARM Holdings PLC shares jumped 47 per cent on Monday, following news that the British chip designer will be acquired by Japan's SoftBank Group for around $32 billion. The deal could be one of the largest in European technology space to date and SoftBank's largest ever.
ARM, the most valuable tech company listed in London, has a major presence in mobile processing, with its processor and graphics technology used by Samsung, Huawei and Apple in their in-house designed microchips.
SoftBank will pay £17 a share for ARM Holdings, which is at a 43 per cent premium to ARM's closing share price on Friday.
The deal comes less than a month after SoftBank's founder, Masayoshi Son, scrapped his plans to retire, effectively pushing out his heir apparent, former Google executive Nikesh Arora.
(With agency inputs)
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