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Microsoft To Buy LinkedIn For $26.2 Billion Cash In Its Biggest-Ever Deal

Posted by On June 13, 2016 0 Comment

Microsoft Corp agreed to buy LinkedIn Corp for $26.2 billion in its biggest-ever deal, combining the software giant’s fast-growing cloud services business with the world’s largest online network for professionals.

The offer of $196 per share represents a premium of 49.5 per cent to LinkedIn’s Friday closing price.

LinkedIn’s shares were jumped 48 per cent to $194.28 before the opening bell on Monday. Microsoft’s shares were down 3.3 percent.

Jeff Weiner will remain chief executive of LinkedIn, reporting to Microsoft CEO Satya Nadella.

The deal is expected to close in 2016, the companies said in a joint statement. Microsoft said it would issue new debt to fund the deal.

After the deal, LinkedIn will become part of Microsoft’s productivity and business processes unit.

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Source:Ndtv

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