LinkedIn bought by Microsoft for $26.2bn in cash
by Alex Hern in London and Jana Kasperkevic in New Yo from Technology | The Guardian on (#1H1FD)
Business-oriented social network site hails deal as 'a chance to change how the world works'
Microsoft is buying the business-focused social network LinkedIn for $26.2bn (18.5bn) in cash, its biggest ever purchase, the two companies announced on Monday.
The agreed deal - at $196 per LinkedIn share - was announced by both companies before the market opened on Wall Street. LinkedIn's shares soared 49% on the news while Microsoft's dipped close to 3%.
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