Microsoft to buy LinkedIn for $26.2B in cash, makes big move to social media
Microsoft is buying professional social networking site LinkedIn for $26.2B billion U.S.dollars. Microsoft says it will pay $196 dollars a share in an all-cash transaction. That's an almost fifty percent premium to LinkedIn's stock market value as of last Friday. Under the terms of the deal, LinkedIn will retain its own brand and independence and CEO Jeff Weiner will stay on. Microsoft CEO Satchya Nadella said the two companies share a mission of connecting the world's professionals and helping people work more efficiently.The deal is one of the largest tech takeovers on record and is expected to help Microsoft gain a solid foothold in the social network market.