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Microsoft Agrees To Buy LinkedIn For $26.2 Billion

Microsoft Agrees To Buy LinkedIn For $26.2 Billion
JAKARTA, INDONESIA - MAY 26: Chief Executive Officer of Microsoft Corp. Satya Nadella talks to audience during the Microsoft Developer Festival in Jakarta, Indonesia on May 26, 2016. (Photo by Jefri Tarigan /Anadolu Agency/Getty Images)
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JAKARTA, INDONESIA - MAY 26: Chief Executive Officer of Microsoft Corp. Satya Nadella talks to audience during the Microsoft Developer Festival in Jakarta, Indonesia on May 26, 2016. (Photo by Jefri Tarigan /Anadolu Agency/Getty Images)

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.

"Today is a re-founding moment for LinkedIn," Reid Hoffman, chairman of LinkedIn's board, said in a statement.

Jeff Weiner will remain chief executive of LinkedIn, reporting to Microsoft CEO Satya Nadella.

The deal is expected to close in 2016.

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This article exists as part of the online archive for HuffPost India, which closed in 2020. Some features are no longer enabled. If you have questions or concerns about this article, please contact indiasupport@huffpost.com.