MICROSOFT BUYS LINKEDIN
Microsoft has offered $26.2bn for professional networking firm LinkedIn, representing a 50% premium to LinkedIn’s closing price on 10 June. The deal is Microsoft’s biggest-ever acquisition, ft.com reported. LinkedIn’s shares have fallen 40% over the past year, and the firm reported a net loss of $99m in the first quarter, it reported. Despite concerns that LinkedIn’s growth may be slowing, it is the only major US social network to operate in China. Microsoft CEO Satya Nadella said in an email to staff that the deal will bring together the “world’s leading professional cloud with the world’s leading professional network”, ft.com said. LinkedIn will retain its brand and independence.