Microsoft Inc. (MSFT) Buys LinkedIn (LNKD) For $26.2 Billion

LinkedIn, the professional social network, has a new boss. Microsoft Inc. (NASDAQ:MSFT) has purchased LinkedIn for $26.2 billion, the company said Monday.

Microsoft is buying the company in a cash deal at $196 per share, up from its current price of $131. The market capitalization was $16.81 billion at Friday’s close.