Lord Myners attacks £24bn takeover of UK’s largest tech firm saying Japanese buyer is highly indebted and unfocused, and its pledges meaningless
Shareholders in ARM Holdings are expected to approve a £24bn takeover by Japan’s SoftBank amid lingering concerns over the sale of Britain’s biggest technology company.
ARM’s board accepted SoftBank’s cash offer on 18 July and the UK company’s shareholders will vote on the deal at a meeting in London. The £17 a share offer represents a premium of more than 40%on ARM’s record closing price and it will receive the overwhelming support of fund managers.
Related: The chancellor's reaction to SoftBank's takeover of ARM was ludicrous
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