Microsoft has announced that it is acquiring LinkedIn, the social network for professionals with some 433 million users, for $26.2 billion, or $196 per share, in cash. The transaction has already been approved by both boards, but it must still get regulatory and other approvals.
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.
LinkedIn is keeping its branding and product, and it will become a part of Microsoft’s productivity and business processes segment. LinkedIn’s CEO Jeff Weiner will report to Satya Nadella.
Reactions:
#Linkedin deal should help @microsoft in achieving its bold ambition to reinvent productivity&business processes!All the best @satyanadella!
— Punit Goenka (@punit_goenka) June 14, 2016
Microsoft are set to buy LinkedIn for $26.2bn! Hopefully their first plan of action is to stop sending us so many damn emails! #OpenLine
— Twadio Show (@TwadioShow) June 14, 2016
