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13Jun16

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Microsoft to Buy LinkedIn for $26.2 Billion

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Microsoft said on Monday it was acquiring LinkedIn in a $26.2 billion cash deal.

The companies said that Microsoft had agreed to pay $196 a share to buy LinkedIn, a business social networking site that has more than 400 million members globally.

"The LinkedIn team has grown a fantastic business centered on connecting the world's professionals," Satya Nadella, Microsoft's chief executive, said in a statement.

The companies said Reid Hoffman, a founder of LinkedIn and its controlling shareholder, had approved the deal, as did Jeff Weiner, the chief executive of LinkedIn. Mr. Weiner will remain chief executive of LinkedIn, which will operate as an independent brand, the companies said.

LinkedIn shares had fallen by nearly half since a peak of almost $260 a share last fall and ended trading on Friday at $131.08.

[Source: By Nick Wingfield, International New York Times, 13Jun16]

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This document has been published on 14Jun16 by the Equipo Nizkor and Derechos Human Rights. In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.