ARM shareholders approve takeover by Softbank

News Wireless Global 30 AUG 2016
ARM shareholders approve takeover by Softbank
Shareholders of ARM have voted overwhelmingly to approve the company's planned takeover by Softbank Group. At shareholder and court meetings, around 95 percent of shares represented present voted for the takeover, equal to over 60 percent of ARM's total outstanding shares. 

Pending final court approval on 01 September, trading in ARM's shares is expected to stop 02 September and the company's listing will end 06 September. The record date for its final dividend will be 08 September. 

Softbank announced in July an agreement to acquire ARM for GBP 24.3 billion. 

Categories:

Mobile

Companies:

ARM,  Softbank

Regions:

Global

Tags:

Semiconductors, Wireless, Wholesale, M&A buyouts & divestments

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