Microsoft has inked a deal to acquire business-focused social media network LinkedIn Corp. for $196 per share in an all-cash agreement valued at $26.2 billion, inclusive of LinkedIn’s net cash.
They said LinkedIn will retain its brand with Jeff Weiner remaining CEO of LinkedIn, reporting to Microsoft CEO Satya Nadella. Reid Hoffman, chairman of the board, cofounder and controlling shareholder of LinkedIn, and Weiner both fully support this transaction, they said. The deal is expected to close later this year.
Per the break-up fee cited in this SEC flling, LinkedIn will have to pay Microsoft $725 million if the deal falls through.