Microsoft Corp. said Monday it has agreed to acquire LinkedIn Corp. in an all-cash deal valued at $26.2 billion. In a blog post, Microsoft said it will pay $196 per LinkedIn share and will finance the deal by issuing new debt. The professional networking site will retain its brand, culture and independence and Jeff Weiner will remain chief executive, said the blog. Weiner will report to Microsoft CEO Satya Nadella. The deal is expected to close this calendar year. LinkedIn shares rallied 48% on the news in premarket trade, while Microsoft shares were halted for news pending.
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