Microsoft Corporation is trying its hand at social media once again by acquiring LinkedIn, a business-oriented professional networking website. The deal is valued at $26.2 billion at $196 per share. Microsoft promised that LinkedIn’s identity and brand will be preserved.
A statement released by Microsoft on Monday said that LinkedIn CEO Jeff Weiner will retain his position and will report to his Microsoft counterpart Satya Nadella. Although the two companies’ respective boards backed the acquisition, LinkedIn’s shareholders are yet to green light the agreement and regulatory approvals are not yet in place.
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