SoftBank is buying chip designer ARM for $31.4 billion in cash

SoftBank has agreed to acquire British chip designer ARM Holdings for £23.4 billion ($31.4 billion), the biggest ever purchase of a European technology company. SoftBank is paying around £17 for each share in the British company, weeks after the UK voted to leave the EU and the pound plummeted in value.
The British vote to leave the European Union likely made ARM a juicier target to foreign companies looking for investments, but as the Financial Times notes,