SoftBank To Acquire ARM Holdings For GBP 24.3 Bln - Quick Facts

(RTTNews) - The boards of SoftBank Group Corp. (SFTBF.PK) and ARM Holdings plc (ARM.L, ARMH) announced they have reached agreement on the terms of a recommended all cash acquisition by which all of the issued and to be issued share capital of ARM will be acquired by SoftBank. The consideration values the entire existing issued and to be issued share capital of ARM at approximately 24.3 billion pounds or 1,700 pence in cash for each ARM Share. Following the acquisition, SoftBank intends that ARM will continue to operate as a separate business group within SoftBank.

ARM shareholders who are on the register of members of ARM as at close of business on 8 September 2016, or at close of business on the business day prior to the effective date if earlier, will be entitled to receive and retain an interim dividend of 3.78 pence per ARM Share. In addition, ARM Shareholders will also be entitled to receive and retain any future dividends in the ordinary course with a record date prior to the effective date, without any reduction of the offer consideration payable under the acquisition.

SoftBank intends to: preserve the ARM organisation, including ARM's existing senior management team. The acquisition will be implemented by way of a Court-sanctioned scheme of arrangement. The Group expects that the Scheme will become Effective as soon as practicable in its third quarter of 2016.