Apple planning to acquire stake in ARM Holdings to deter Intel bid for ARM
Apple Inc, a listed Cupertino, California-based computer company, was said to be planning to acquire a strategic shareholding in the listed UK-based microchip designer ARM Holdings, The Daily Mail reported. The newspaper mentioned gossip from the US that Apple plans to buy a stake in ARM to deter a potential bid for ARM from the listed Californian chip manufacturer Intel, but did not cite a source for the speculation.
ARM is one of Apple’s major suppliers, the item noted. Dealers cited by the report thought that Apple would need to offer more than 1500p per share to buy a large stake in ARM.
A Daily Telegraph market report noted revived chatter that Apple was thinking about making an offer for ARM, but did not cite a source for the rumour. The report did not specify whether the speculation was about a full takeover bid by Apple or the acquisition of a stake in ARM.
ARM Holdings’ share price closed 32p up at 1069p in London yesterday, 4 February, giving the company a market capitalisation of GBP 15.01bn (EUR 20.08bn).
Daily Mail, Daily Telegraph