Microsoft to buy LinkedIn for $26.2b

Microsoft announced a deal to acquire professional social platform LinkedIn for $196 per share yesterday. The all-cash deal is valued at $26.2 billion, reports CNBC.
Shares of LinkedIn surged 48 per cent after the announcement, while shares of Microsoft opened down 5 per cent. Before the announcement, trading in Microsoft had been halted briefly for news pending.
Jeff Weiner will stay on as CEO of LinkedIn and will report to Microsoft CEO Satya Nadella. The deal was unanimously approved by both companies' Boards of Directors, and is expected to close by the end of the calendar year. The acquisition is still subject to approval by LinkedIn shareholders, and regulatory approvals.
"The LinkedIn team has grown a fantastic business centered on connecting the world's professionals," Nadella said in a statement. "Together we can accelerate the growth
of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet."
In a statement to LinkedIn employees, Weiner said: "Given our ability to operate independently, little is expected to change: You'll have the same title, the same manager, and the same role you currently have.
The one exception: For those members of the team whose jobs are entirely focused on maintaining LinkedIn's status as a publicly traded company, we'll be helping you find your next play.
In terms of everything else, it should be business as usual. We have the same mission and vision; we have the same culture and values; and I'm still the CEO of LinkedIn."

Microsoft to buy LinkedIn for $26.2b

Microsoft announced a deal to acquire professional social platform LinkedIn for $196 per share yesterday. The all-cash deal is valued at $26.2 billion, reports CNBC. Shares of LinkedIn surged 48 per cent after the announcement, while shares of Microsoft opened down 5 per cent. Before the announcement, trading in Microsoft had been halted briefly for news pending. Jeff Weiner will stay on as CEO of LinkedIn and will report to Microsoft CEO Satya Nadella. The deal was unanimously approved by both companies Boards of Directors, and is expected to close by the end of the calendar year. The acquisition is still subject to approval by LinkedIn shareholders, and regulatory approvals. The LinkedIn team has grown a fantastic business centered on connecting the worlds professionals, Nadella said in a statement. Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet. In a statement to LinkedIn employees, Weiner said: Given our ability to operate independently, little is expected to change: Youll have the same title, the same manager, and the same role you currently have. The one exception: For those members of the team whose jobs are entirely focused on maintaining LinkedIns status as a publicly traded company, well be helping you find your next play. In terms of everything else, it should be business as usual. We have the same mission and vision; we have the same culture and values; and Im still the CEO of LinkedIn.