SoftBank Acquires Arm Stake from Vision Fund for $64 Billion
SoftBank has acquired the remaining 25% stake in Arm Ltd from its Vision Fund unit, valuing the chip designer at $64 billion. SoftBank is expected to retain a stake of up to 90% in Arm, selling fewer shares in the upcoming IPO. The deal removes a potential overhang for Arm's stock as Vision Fund had planned to cash out its stake over time. The acquisition is a major victory for Vision Fund's biggest investors, including Saudi Arabia's Public Investment Fund and Abu Dhabi's Mubadala. Arm's IPO is expected to take place in September.