Microsoft said that it will acquire LinkedIn for an agreed
deal sum of $26.2 billion, inclusive of LinkedIn's net cash. After the
acquisition, LinkedIn will retain its distinct brand, culture and independence,
according to a joint statement.
The statement said that 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. The deal is an all-cash transaction
at $196 per share at a premium of 49.5% from Friday's close.
Microsoft said that the transaction has been
unanimously approved by the Boards of Directors of both LinkedIn and Microsoft.
The deal is expected to close this calendar year and is subject to approval by
LinkedIn's shareholders, the satisfaction of certain regulatory approvals and
other customary closing conditions.
The
transaction is expected to close this calendar year.
The
LinkedIn team has grown a fantastic business centered on connecting the world's
professionals. Together we can accelerate the growth of LinkedIn, as well as
Microsoft Office 365 and Dynamics as we seek to empower every person and
organization on the planet.
"Just
as we have changed the way the world connects to opportunity, this relationship
with Microsoft, and the combination of their cloud and LinkedIn's network, now
gives us a chance to also change the way the world works. For the last 13
years, we've been uniquely positioned to connect professionals to make them
more productive and successful, and I'm looking forward to leading our team
through the next chapter of our story.
Source (Economic Times)
No comments:
Post a Comment