Why does it take so long? I would be pretty surprised if they aren't already operating with audited GAAP financials, etc etc. Or is the extended date a hedge against market conditions, to avoid having to announce a delay.
An IPO takes a really long time to initiate, draft, and conclude -- from legal due diligences, to investment banking drafts or market scouting, and securing early buyers. Investment banks kind of bid on the right to do the IPO for instance, each offering their own kind of package for ARM to go with.
M&A departments in New York or London must have been (or still be) pulling all-nighters.
Why does it take so long? I would be pretty surprised if they aren't already operating with audited GAAP financials, etc etc. Or is the extended date a hedge against market conditions, to avoid having to announce a delay.