June 13, 2016 / 12:45 PM / 2 years ago

BRIEF-Microsoft to buy LinkedIn for $26.2 bln

June 13 (Reuters) - Microsoft Corp :

* Microsoft to acquire LinkedIn

* Microsoft will acquire LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion

* Jeff Weiner will remain CEO of LinkedIn

* Reid Hoffman, chairman of the board, co-founder and controlling shareholder of LinkedIn, and Jeff Weiner “fully support” this transaction

* Transaction is expected to close this calendar year - blog

* “LinkedIn will retain its distinct brand, culture and independence”

* Microsoft says transaction has been unanimously approved by the boards of directors of both LinkedIn and Microsoft

* Will finance the transaction primarily through the issuance of new indebtedness

* Reiterated its intention to complete its existing $40 billion share repurchase authorization by Dec 31, 2016

* Morgan Stanley is acting as exclusive financial advisor to Microsoft, and Simpson Thacher & Bartlett LLP is acting as legal advisor

* Expects deal to have minimal dilution of about 1 percent to non-GAAP earnings per share for remainder of fy 2017 post-closing, for FY 2018

* Deal to become accretive to Microsoft’s non-GAAP earnings per share in Microsoft’s fiscal year 2019 or less than two years post-closing

* Qatalyst partners and Allen & Company LLC are acting as financial advisors to LinkedIn

* Wilson Sonsini Goodrich & Rosati, professional corporation, is acting as legal advisor to LinkedIn Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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