SoftBank has made one of the biggest takeover bids so far this year with its $32 billion offer for ARM Holdings, the U.K.’s leading chip and software designer.
The deal has implications for the global economy and Brexit Britain. The move appears to reflect a big bet by SoftBank to boost its presence in the internet-of-things sector, by acquiring a tech leader that can supply information-sharing chips in everyday objects.
But what does the deal tell us about Brexit Britain? The recent vote to leave the EU is deemed so important by global leaders that it was discussed at the recent G20 meeting of finance ministers and central bankers in Chengdu, China. Essentially what global leaders fear is that Brexit will not only unhinge global financial markets, but act as a catalyst for disintegration and instability in the EU. The latter is probably of much greater significance over the long-term. And in a way, that is why the SoftBank announcement is important. Here’s why….Read more: