Japan’s government began the week nosily making big demands about trade and investment deals with the UK and European Union in light of Brexit, SoftBank was quietly tying the knot with British smartphone chip designer ARM.
On Monday, the two companies said that the £24 billion ($32 billion) takeover deal—which was struck in mid-July, just weeks after Britain voted for Brexit—had been completed.
ARM added that its chairman Stuart Chambers had quit immediately following the merger, alongside a number of resignations from non-exec directors. The chip designer said it was also in the process of severing ARM from listings on the London Stock Exchange and Nasdaq, as well as killing registration with the US Securities and Exchange Commission now that it’s part of SoftBank.
