ARM deal gives handy profit to Mr May's City firm

Lynsey Barber
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Theresa May Succeeds David Cameron As The UK's New Prime Minister
ARM shares rocketed more than 40 per cent after news of the deal broke (Source: Getty)

The billion pound takeover deal for ARM by Softbank is a nice hand for the fund manager which employs the new Prime Minister's other half.

Capital Group, where Theresa May's husband Philip works as a client manager (but doesn't manage any funds), is one of the largest shareholders in the British tech company which is being taken over by the Japanese firm for more than £24bn.

Read more: Arm's acquisition will create a new generation of hungry tech entrepreneurs

The seventh largest asset manager in the world, Capital landed a rather handy profit of around £200m as a result of the takeover offer - on paper at least.

Capital isn't waving its hands quite as much as smaller Scottish firm Baillie Gifford, however. The biggest stakeholder in ARM, it saw the value of its position grow by £700m.

Group hugs all round.

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