Japanese telecommunication giant SoftBank has confirmed that the company intends to acquire UK chip designer ARM Holdings for almost $32 Billion (£24.3 Billion) in an all-cash deal.
ARM has also agreed to this offer from SoftBank and said that its board would recommend the all-cash deal to shareholders.
SoftBank will pay nearly $22.5 per ARM share, which is 43 percent more than ARM's closing share price on Friday and 41 percent more than ARM's all-time high closing share price.
ARM has also agreed to this offer from SoftBank and said that its board would recommend the all-cash deal to shareholders.
SoftBank will pay nearly $22.5 per ARM share, which is 43 percent more than ARM's closing share price on Friday and 41 percent more than ARM's all-time high closing share price.
The deal is the largest-ever acquisition of a European technology business, first reported by The Financial Times.
Nintendo’s market cap doubles to $42 billion since Pokemon GO launch
By Asia Unhedged on July 19, 2016 in Asia Unhedged, Japan
By Hideyuki Sano
TOKYO (Reuters) – Shares of Japan’s Nintendo Co soared another 14 percent on Tuesday, more than doubling the firm’s market capitalization to 4.5 trillion yen ($42.5 billion) in just seven sessions since the mobile game Pokemon GO was launched in the United States.
The phenomenal success of Pokemon GO – now available in 35 countries, the majority in Europe, and most recently in Canada – has triggered massive buying in Nintendo shares, surprising even some seasoned market players.
“I’ve never seen the trend of such a big company’s shares changing so quickly in such a short period of time,” said Takashi Oba, senior strategist at Okasan Securities.
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