Microsoft announced they have bought LinkedIn for the measly amount of $26.2 billion. Here is the new text from Microsoft:
Microsoft Corporation and Linkedin Corporation announced Monday June 13th to have entered into a definitive agreement under which Microsoft will acquire LinkeIn for $196 per share in an all cash transaction valued at $26.2 billion, inclusive of LinkedIn’s net cash. LinkedIn will retain its distinct brand, culture and independence. Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella, CEO of Microsoft. Reid Hoffman, chairman of the board, co-founder and controlling shareholder of LinkedIn, and Weiner both fully support this transaction. The transaction is expected to close this calendar year.
It is not sure what the reasoning behind the takeover is, other than that captain Satya Nadella from Microsoft said it will complement their businesses. We’ll see what the future will bring with this acquisition.
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