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SoftBank Agrees to Buy ARM Holdings for More Than $32 Billion

The all-cash deal, which was confirmed by ARM on Monday morning, comes on the heels of SoftBank Chief Executive Masayoshi Son’s decision to take back the reins of the company’s investment strategy from his former deputy and designated successor, Nikesh Arora, who resigned in June.

The ARM deal also comes less than a month after the U.K.’s decision to leave the European Union pushed down the value of the pound, potentially making British companies much more attractive bargains for buyers from overseas. It could face increasingly strict scrutiny in the U.K.: New British Prime Minister Theresa May struck a noticeably...