Softbank’s decision to acquire ARM Holdings is “breathtaking” along the lines of the LinkedIn takeout by Microsoft earlier this year, and it will ignite the semiconductor sector, said TheStreet’s Jim Cramer. ARM Holdings surged over 40% Monday after agreeing to a buyout from SoftBank. Japan’s SoftBank offered a deal worth more than 24.3 billion pounds, or $32.1 billion, roughly a 43% premium to ARM’s Friday close. The acquisition is the biggest in the U.K. since AB InBev BUD and SABMiller’s deal last November.
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