Today, Softbank announced that it would purchase ARM, a famous British chip design company, at a price of more than 30 billion US dollars. ARM agreed to accept the all cash purchase offer of 1700p per share proposed by Softbank, a Japanese telecommunications and Internet company. Affected by this news, the London stock market in the UK rose before the session, and the share price of ARM Holdings rose nearly 50%. As of press time, the FTSE 100 index rose 41.42 points, or 0.62%, to 6715.58; ARM Holdings rose 510p, or 42.89%, to 1699p on the London Stock Exchange. ARM takes the lead in key areas of the chip industry and mainly earns US dollars. The UK's withdrawal from Europe has led to a 30% drop in the exchange rate of sterling against the yen, which makes ARM an attractive acquisition target.