Microsoft agrees to buy LinkedIn for $26.2 billion

By Reuters | Jun. 13, 2016

A Microsoft logo is seen on an office building in New York City in this July 28, 2015 file photo. Microsoft Corp announced more big cuts to its smartphone business on Wednesday.

Microsoft Corp (MSFT.O) agreed to buy LinkedIn Corp (LNKD.N) for $26.2 billion in cash, the companies said in a statement on Monday.

The offer of $196 per share represents a premium of 49.5 percent to LinkedIn's Friday closing price.

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