ARM lifts European shares after bid by SoftBank

lunes 18 de julio de 2016 04:33 GYT
 

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* STOXX Europe 600 rises 0.7 percent

* Technology shares lead market higher

* ARM rises over 40 percent, to record

* Sector peers Dialog, AMS also among top gainers

By Alistair Smout

LONDON, July 18 (Reuters) - European shares rose on Monday, boosted by a surge in ARM to a record high after Japan's SoftBank agreed to buy the chip designer at a premium of more than 40 percent to Friday's closing price.

ARM was up 43 percent to 1,700p after SoftBank agreed to buy the British company in a 24.3 billion pound ($32.2 billion) deal.

The deal will see SoftBank pay 1,700p for every ARM share, and the Japanese firm said it would double ARM's UK staff and keep its headquarters in Cambridge.   Continuación...