MICROSOFT BUYS LINKEDIN FOR $26.2 BILLION

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Satya Nadella

Getty Images/Mat Hayward

Microsoft is buying LinkedIn for $26.2 billion, the company announced on Monday. Microsoft will pay $196 per share for the company.

LinkedIn CEO will remain CEO of the professional social network, and will report to Microsoft CEO Satya Nadella.

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Under the terms of the acquisition, LinkedIn will maintain its "distinct brand, culture, and independence."

The deal is expected to be completed this calendar year.

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