Microsoft to buy LinkedIn for $26 billion

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NEW YORK — Microsoft announced it’s buying the professional social network company LinkedIn Monday in a cash deal valued at $26.2 billion.

Microsoft is paying $196 per share for LinkedIn, a 50% premium over the stock’s closing price on Friday.

LinkedIn had $3 billion in revenue last year, up 35% from the year before. And it generally posts operating income which tops forecasts. But its shares were down 42% so far this year, before the deal was announced.