Microsoft To Buy LinkedIn For $26.2 Billion !!

Microsoft has announced that it will acquire LinkedIn in a transaction valued at $26.2 billion.

Once the deal is complete — which is expected to be sometime in 2016 — LinkedIn will continue as it currently is in terms of “brand, culture and independence,” the announcement noted. LinkedIn CEO Jeff Weiner will remain at the helm of the new Microsoft subsidiary and will report directly to Microsoft CEO Satya Nadella.

Founded out of California in 2002, LinkedIn today claims north of 400 million members globally and, with 105 million unique monthly visitors, has emerged as the de facto social network for professionals.

Microsoft will pay $196 per LinkedIn share, a 50% premium to LinkedIn’s closing price on Friday.Shares of LinkedIn, which had dropped 42% so far this year through Friday’s close, jumped 47% to $192.95. Microsoft shares fell 2.7%

Microsoft said LinkedIn will “retain its distinct brand, culture and independence,” with Chief Executive Jeff Weiner remaining at the helm, reporting to Microsoft CEO Satya Nadella. The deal, the largest acquisition ever for Microsoft, is expected to close within the year. 

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