Microsoft Pairs with LinkedIn
We have another merger in our midst. Microsoft has announced their plan to acquire LinkedIn. So what is the deal? Here is what you need to know. The agreement states Microsoft will purchase LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn’s net cash. LinkedIn will be able to keep its independence and brand. Jeff Weiner, the creator and CEO of LinkedIn, will retain his position. The transaction has been unanimously approved by the Boards of Directors of both companies. The deal is expected to close this calendar year and is subject to approval by LinkedIn’s shareholders, the satisfaction of certain regulatory approvals and other customary closing conditions. This deal will combine the world’s leading professional cloud with the world’s leading professional network, which is kind of ingenious. That’s it for now. We’ll keep you posted on how this plays out.