Microsoft is buying the business-focused social network LinkedIn for $26.2bn (£18.5bn) in cash, its biggest ever purchase, the two companies announced on Monday. Even as LinkedIn shares soared on the announcement, Microsoft shares are expected to take a bit of a beating in the near future. The agreed deal – at $196 per LinkedIn share – was announced by both companies before the market opened on Wall Street. LinkedIn’s shares soared 49% on the news while Microsoft’s dipped close to 3%. Jeff Weiner, LinkedIn’s chief executive, said the deal “gives us a chance to change the way the world works”.

Source: The Guardian June 13, 2016 13:21 UTC