SoftBank expects regulators to back deal for UK's ARM

However, during a press conference this morning, SoftBank CEO Masayoshi Son said that Brexit was not a factor in the decision to buy ARM, with the vote not bringing "any discount".

"This is one of the most important acquisitions we have ever made, and I expect ARM to be a key pillar of SoftBank's growth strategy going forward", he added.

"The Prime Minister spoke to the chief executive of SoftBank yesterday and welcomed the investment and their commitment to keeping the company in Cambridge and doubling the number of jobs over five years".

That Softbank has offered ARM nearly 45 per cent of their value in excess of what the company is actually worth, shows that they are eager to get the deal done.

Monday is a big day in the United Kingdom technologies sector, as a surprise £24bn takeover of Cambridge based ARM Holdings has boosted the sector as a whole. ARM is behind the design of the processors found in the vast majority of smartphones, with its tech being inside more than 95 percent of smartphones.

The new chancellor, Philip Hammond, was in favor of this deal, said: "Just three weeks after the referendum decision, it shows that Britain has lost none of its allure to worldwide investors". Big deals have included the sale of around $10 billion worth of shares in Chinese e-commerce giant Alibaba Group Holding Ltd. and the sale of its entire stake in Finnish game maker Supercell Oy to China's Tencent Holdings Ltd.

A week ago, May pledged to devise a "proper industrial strategy" to defend British companies from being snapped up by foreign businesses, including firms in Britain's pharmaceutical sector.

"This is good news for British workers, it's good news for the British economy", he said.

ARM doesn't make its own chips, but its clients used ARM designs to manufacture and ship over 60 billion chips to date.

The deal not only represents the biggest takeover of a British company but also the first large-scale, cross-border transaction in the country since it voted to leave the European Union last month.

SoftBank is expected to preserve the existing senior management and keep its partnership-based business model.

Analysts also expect more British firms to become foreign takeover targets, with the plunge in the value of the pound making United Kingdom firms cheaper following the Brexit vote.

That said, ARM is the golden goose laying a great many golden eggs, so if SoftBank were to change ARM's diet too much or interfere with it too greatly, its golden goose might suffer, which wouldn't do ARM, SoftBank or ARM's licensees who make ARM chips any good.

Stuart Chambers, the chairman of ARM Holdings, commented: "It is the view of the Board that this is a compelling offer for ARM Shareholders, which secures the delivery of future value today and in cash".

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