SoftBank Group Corp. shares soared after the company reached a deal to sell chip designer Arm Ltd. for as much as $40 billion and revived talks about taking the group private. SoftBank announced the sale of Arm to Nvidia Corp. for a combination of cash and stock. SoftBank founder Masayoshi Son has considered a management buyout of his company since at least 2015, when talks on financing with an overseas partner fell through. Those advocating for the plan suggest SoftBank would receive much less public scrutiny as a closely held company. The envisioned sale of Arm -- whose designs underpin the vast majority of smartphone and mobile chip technology -- may draw opposition from rivals.

Source: Mint September 14, 2020 00:56 UTC