Microsoft buying LinkedIn for $26B

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LinkedIn has agreed to be acquired by Microsoft in an all-cash deal valued at $26.2 billion. The Mountain View, Calif.-based social networking site (NYSE: LNKD) said it agreed to sell for $196 a share, a nearly 50 percent premium on its closing price on Friday. LinkedIn said it will operate as a distinct brand and independently with Jeff Weiner remaining as CEO, reporting to Microsoft CEO Satya Nadella. Reid Hoffman, LinkedIn’s co-founder, chairman and controlling shareholder, said he fully supports…