ARM shares slip as Artisan acquisition completed


EE Times: Latest News ARM shares slip as Artisan acquisition completed
Peter Clarke (12/24/2004 7:13 AM EST) URL: http://www.eetimes.com/showArticle.jhtml?articleID=56200387

LONDON Shares in ARM Holdings plc, the vendor of processor-related intellectual property, fell on the London Stock Exchange on the news that ARM had completed the acquisition of Artisan Components Inc. following approval by both sets of shareholders on Thursday (Dec. 23). Cambridge, U.K.-based ARM announced its plan to acquire Artisan in August 2004 but met disapproval from the financial community that expressed concern that the purchase price of US$913 million, was too much for the vendor of cell libraries. In statement ARM said it would issue more than 324 million new shares pay $235.4 million in cash to finance the deal, and this represents an aggregate consideration value of approximately $1 billion. Lucio Lanza, chairman of Artisan, and Mark Templeton, president and chief executive officer of Artisan, join the board of directors of ARM Holdings plc as a non-executive director and an executive director, respectively.

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