Jun 13, 2016

Microsoft is buying LinkedIn For $26.2 Billion In Cash

Microsoft announced a $26.2 billion deal on Monday to acquire professional social platform LinkedIn for $196 per share as reported by CNBC.

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.

"Today is a re-founding moment for LinkedIn," Reid Hoffman, chairman of LinkedIn's board, said in a statement.

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


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