LONDON, July 18 (Reuters) - European shares rose on Monday, boosted by a surge in ARM after Japan's SoftBank agreed to by the chip designer at a premium of more than 40 percent to Friday's closing price.
ARM ARM.L rose 45 percent to a record high of to 1,733p after SoftBank 9984.T agreed to buy the British chip designer in a 24.3 billion pound ($32.2 billion) deal. deal will see SoftBank pay 1,700p for every ARM share, and the Japanese firm said it would double ARM's UK staff and keep its headquarters in Cambridge.
Sector peers Dialog Semiconductor DLGS.DE , AMS AMS.S and STMicro STM.MI rose 4.6 percent, 3.6 percent and 1.6 percent respectively.