SoftBank agrees £24-bn takeover of chip giant ARM

Japanese mobile giant SoftBank has agreed a takeover of British chip designer ARM Holdings worth around £24.3 billion ($32 billion, 29 billion euros), the pair announced Monday. "We have long admired ARM as a world renowned and highly respected technology company that is by some distance the market-leader in its field," SoftBank chairman and chief executive Masayoshi Son said in a joint statement, in a major investment boost for Britain following Brexit. Son added that the deal mark