- The deal is the first major cross-border transaction in Britain since Brexit.
- Compared with this same time in 2015, for example, pound-denominated assets are 30 percent cheaper for buyers holding yen.
- The deal is the third-largest proposed corporate merger this year, behind Bayer’s offer for Monsanto and a Chinese state-owned company’s proposal for Syngenta, according to the deal-tracking firm Dealogic. If completed, it would also be the second-largest chip deal on record, after Broadcom’s $37 billion deal for Avago Technologies.
- SoftBank already has ties to ARM through Sprint, the American wireless carrier that it controls.
- The deal is expected to close in November.
ARM Holdings: Softbank (SFTBY) confirms merger offer to acquire ARMH for GBP24.3 bln ($31.4 bln):
The boards of directors of SoftBank Group (SFTBY) and ARM Holdings (ARMH) are pleased to announce that they have reached agreement on the terms of a recommended all cash acquisition of the entire issued and to be issued share capital of ARM by SoftBank (or, at SoftBank's election, a wholly-owned subsidiary of SoftBank).
Under the terms of the Acquisition
- Each ARM Shareholder will be entitled to receive: for each ARM Share: 1,700 pence in cash
- The price of 1,700 pence per ARM Share represents a premium of:
- ~43.0% to the closing price of 1,189 pence per ARM Share
- ~42.9 % to the closing price per ARM ADR of $47.08, on 15 July 2016 (being the last Business Day prior to this Announcement);
- The consideration values the entire existing issued and to be issued share capital of ARM at ~24.3 bln (or $31.4 bln).
- The Acquisition is not subject to any anti-trust or regulatory conditions
** charts before announcement **
