Professional networking site, LinkedIn, has moved to $192 as a mega deal initiated by Microsoft has emerged. This has taken the form of a $196 all-cash take-out offer for the company. In a move which would certainly be described as unexpected, this amounted to a 49% premium to the previous night’s closing price. Social media networking companies have all been rumoured to be in the sights of older, larger confirmed tech companies, who are possibly trying to diversify their offering. However, Microsoft had been expected to move in on Twitter: the move instead for LinkedIn could stem from the fact that the company has made huge headway in China. This is a current notable issue for Twitter and other social media companies.
Jordan Hiscott, Chief Trader
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