WSJ: EU set to approve Microsoft-LinkedIn deal

Company News | Business 12/1/2016, 8:14 PM
WSJ: EU set to approve Microsoft-LinkedIn deal

The European Commission is expected to clear Microsoft Corp.’s purchase of LinkedIn Corporation on December 6, the Wall Street Journal reported citing sources familiar with the matter. According to the sources, the EU will clear the deal worth $26.2 billion under some conditions, including the proposal Microsoft offered last month.

The tech giant suggested to allow professional social networks besides LinkedIn to use its Outlook add-in programs and Outlook application programing interface in an attempt to get the antitrust approval from the EU. It is also prepared to agree that Dell Inc. and Hewlett Packard Enterprise Co. remove a shortcut to LinkedIn currently available on their desktops.

Microsoft announced its acquisition of LinkedIn in June 2016 and is hoping to close the transaction before the end of the year. In order for the company to do this, it needs EU's approval, since it the U.S., Canada, Brazil and South Africa have already given the go-ahead.

TeleTrader Newsroom / NP



Chart for: LINKEDIN CLASS A DL-,0001


Chart for: Microsoft Corporation