LinkedIn (LNKD), Microsoft (MSFT) Deal Closes
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Go back to LinkedIn (LNKD), Microsoft (MSFT) Deal Closes
December 6, 2016 10:47 AM EST
By Foo Yun Chee
BRUSSELS (Reuters) - Microsoft (NASDAQ: MSFT) won EU antitrust approval on Tuesday for its $26 billion bid for professional social network LinkedIn (NYSE: LNKD), its largest ever acquisition, after agreeing to a series of modest concessions.
The deal, which has already received the green light in the United States, Canada, Brazil and South Africa, would close in the coming days following the EU clearance, said Brad Smith, Microsoft's president and chief legal officer.
"With this regulatory process... More
December 6, 2016 10:45 AM EST
(Updated - December 6, 2016 10:47 AM EST)
The European Commission has approved under the EU Merger Regulation the proposed acquisition of LinkedIn by Microsoft. The decision is conditional on compliance with a series of commitments aimed at preserving competition between professional social networks in Europe.
Commissioner Margrethe Vestager, in charge of competition policy, said: "A growing number of Europeans subscribe to professional social networks. These networks are important for professionals to connect and interact and to find new career opportunities. Today's decision ensures that Europeans will continue to enjoy a freedom of choice between... More
