MICROSOFT BUYS LINKEDIN FOR $26.2 BILLION

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Satya NadellaGetty 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.

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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