HALISTER: MORE: Microsoft to Buy Linkedin for $196/Share in Cash

MORE: Microsoft to Buy Linkedin for $196/Share in Cash

(Bloomberg) -- Microsoft in definitive agreement to buy Linkedin for $26.2b or $196 per share in cash, about a 49.5% premium to Friday’s close.
  • LNKD up 48.3% pre-market
  • Jeff Weiner will remain CEO of LinkedIn
  • Reid Hoffman, chairman of LNKD’s, co-founder and controlling shareholder of LinkedIn, and Weiner both support the deal
  • Transaction unanimously approved by the both boards
  • Expected to close this calendar year; Morgan Stanley advising Microsoft; Qatalyst Partners and Allen & Co. advising LinkedIn
  • $725m termination fee
  • Microsoft expects deal to have minimal dilution of ~1% to non-GAAP EPS for remainder of fiscal 2017 and for 2018
    • Expected to be accretive to non-GAAP EPS starting in FY2019
  • MSFT reiterates $40b buyback plan
  • Call at 11:45am webcast
Statement link
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
MSFT US (Microsoft Corp)
LNKD US (LinkedIn Corp)

People
Jeffrey Weiner (LinkedIn Corp)
Reid Hoffman (LinkedIn Corp)

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