The Japanese SoftBank buy the British ARM 32.000 billion – Yahoo Finance Spain

The Japanese telecommunications giant SoftBank will buy the British manufacturer of ARM microprocessors 24.300 million pounds (32.000 million, 29.000 million euros), said Monday both groups.

the announcement of the first major merger / acquisition after Brexit was greeted with euphoria in the London stock Exchange, where the action of ARM gained more than 40% by midmorning.

“We admire long to ARM as a highly reputed firm of industry-leading technology sector,” said president of SoftBank, Masayoshi Son, said in a joint statement.

ARM, which provides components for Apple’s iPhone, was considered by analysts as a very attractive for large investment company.

SoftBank signaled its intention to keep the headquarters of ARM in the university city of Cambridge and “at least double “the staff of the firm in the UK.

Philip Hammond, British finance minister stressed the importance of the operation, which contrasts with the proliferation of warnings about the negative impacts that could be UK departure of the European Union (EU) decided last month in a referendum.

“Just three weeks after the referendum, this shows that Britain has lost none of its attractiveness for investors international, “he said.

analysts said the weakness of sterling against the dollar, which grew from the referendum Brexit, increased interest of foreign companies by British companies.

“we can see in this operation the effect of Brexit and the collapse of the pound, which makes British firms easy targets,” said Neil Wilson, an analyst at brokerage ETX Capital.

“Many more British firms could he go to foreign fast hands, “he said, also mentioning the acquisition last week of chain stores inexpensive Pondland by the holding company South African Steinhoff International for 597 million pounds.

in the acquisition announced Monday, Softbank offered 17 pounds a share of ARM, valuing it at 43% above its closing price on Friday (at 11.89 pounds).

the announcement triggered the quote ARM on the London Stock Exchange, which towards 08H24 GMT gained 41.62%, in a market that evolved rising 0.38%

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