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Home » Microsoft Buys LinkedIn for $26.2 Billion

Capitol Communicator reports that LinkedIn, which is owned by Microsoft, will cut almost 700 more employees, according to a memo viewed by CNBC.

Microsoft Buys LinkedIn for $26.2 Billion

by | Jun 13, 2016

Microsoft  is acquiring LinkedIn, the social network for professionals with some 433 million users, for $26.2 billion in cash. The transaction has already been approved by both boards, but it must still get regulatory and other approvals, reports TechCrunch.

The TechCrunch report, in part, added:

“If for some reason the deal does not go through, LinkedIn will have to pay Microsoft a $725 million termination fee, according to Microsoft’s SEC filing detailing the merger.

“The $196/share offer is a big hike on its closing price from Friday, $131.08. (And in premarket trading, unsurprisingly, LinkedIn’s stock has nearly crept up 64% to reach the share price MSFT is paying. Microsoft’s price is down 4% to $49.66 in pre-market trading.)

“LinkedIn is keeping its branding and product, and it will become a part of Microsoft’s productivity and business processes segment.”

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