Japan's SoftBank says it will to acquire Arm Holdings of the UK

  • Deal is worth £23.4bn
  • Cash deal (17bn GBP portion)
  • Deal expected to be announced Monday morning (UK time)
  • New York Times reported the talks earlier, citing unidentified sources

The FT has more, but is gated.

Bloomberg is ungated.

The massive fall in GBP/JPY since the Brexit vote has made the deal even more attractive. I'm not sure how big an impact this will have on GBP/JPY going forward. With the deal nearly sealed then a good portion of the currency transaction has been done or hedged. But, something to note.