Very big news today in the world of Business, Microsoft Corp. and LinkedIn Corporation on Monday announced they have entered into a definitive agreement under which Microsoft will acquire LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn’s net cash. LinkedIn will retain its distinct brand, culture and independence. Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella, CEO of Microsoft. Reid Hoffman, chairman of the board, co-founder and controlling shareholder of LinkedIn, and Weiner both fully support this transaction.
Jeff Weiner will stay on as CEO of LinkedIn and will report to Microsoft CEO Satya Nadella. The deal was unanimously approved by both companies’ Boards of Directors, and is expected to close by the end of the calendar year. The acquisition is still subject to approval by LinkedIn shareholders, and regulatory approvals.
Source : Microsoft Blog