Shares of LinkedIn surged 48 percent after the announcement, while Microsoft’s stock was down 4 percent. Trading in Microsoft had been halted briefly for news pending before the announcement of the all-cash deal.
Jeff Weiner will stay on as CEO of LinkedIn and will report to Microsoft CEO Satya Nadella. The deal was unanimously approved by both companies’ boards, and is expected to close by the end of the year. The acquisition is still subject to approval by LinkedIn shareholders and regulators.”
Read more here: Microsoft to buy LinkedIn for $26.2 billion