Japan's Softbank buys semiconductor giant ARM for $32 Billion in Cash

Japanese telecommunication giant SoftBank has confirmed that the company intends to acquire UK chip designer ARM Holdings for almost $32 Billion (£24.3 Billion) in an all-cash deal.

ARM has also agreed to this offer from SoftBank and said that its board would recommend the all-cash deal to shareholders.

SoftBank will pay nearly $22.5 per ARM share, which is 43 percent more than ARM's closing