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Microsoft buying LinkedIn for $26B

Media | 06/13/2016 6:41 pm EDT

Microsoft Corp. announced Monday that it has entered into an agreement to buy LinkedIn Corp.’s social networking site for $26.2 billion US. The companies said in a press release Monday that LinkedIn CEO Jeff Weiner will stay on as head of the company, reporting to Microsoft CEO Satya Nadella. “LinkedIn will retain its distinct brand, culture and independence,” the release said. The companies expect the deal to close later this calendar year, it added....