Is it sensible to pay $32 billion for a company which makes a profit of $660 million?
Received wisdom was that ARM’s market cap was so big compared to its profits that no one would be crazy enough to buy it.
Now someone is.
It was also thought that big ARM customers like Apple and Qualcomm would push up ARM’s share price in the event of a bid to price any bidder for ARM out of the market.
Well, at $32 billion, not even those guys probably have the stomach to keep ARM independent.
So is SoftBank crazy?
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