From the WSJ - http://www.wsj.com/articles/softbank-agrees-to-buy-arm-holdings-for-more-than-32-billion-1468808434
Quite the deal..google tells me the current market cap is ~$32B so this represents almost a 100% premium. Maybe there were other bidders in the fray?
Edit: Current P/E is already 48..and a 100% premium would bring it to almost a 100. I know its ARM and of course the long term potential is huge..but its still a very high price to pay.
Both companies’ boards have agreed to the deal
HONG KONG—Japan’s SoftBank Group Corp. has reached a more than $32 billion deal to buy U.K.-based chip-designer ARM Holdings PLC, marking a significant push for the Japanese telecommunications giant into the mobile internet, according to a person familiar with the situation.
The all-cash deal, which is expected to be announced Monday before the opening of London trading, comes on the heels of SoftBank Chief Executive Masayoshi Son’s decision to take back the reins of the company’s investment strategy from his former deputy and designated successor, Nikesh Arora, who resigned in June.
Quite the deal..google tells me the current market cap is ~$32B so this represents almost a 100% premium. Maybe there were other bidders in the fray?
Edit: Current P/E is already 48..and a 100% premium would bring it to almost a 100. I know its ARM and of course the long term potential is huge..but its still a very high price to pay.
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