Shares of LinkedIn Corporation (NYSE: LNKD) on the premarket soared more than 48% after Microsoft Corp. (NASDAQ: MSFT) announced that it acquires a social network for $ 26.2 billion.Redemption fully in cash at the price of $ 196 per share, which is 50% higher than at the close on Friday night for $ 131.08.
Both companies stated that the agreement is final and LinkedIn will retain its brand and independence.
Jeff Weiner will remain Chief Executive Officer (CEO) of LinkedIn, reporting to the head of Microsoft Satya Nadella.
The companies said that the deal will be closed by the end of this year.
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