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Unbelievable news about Microsoft's bid for LinkedIn. As a LinkedIn shareholder I had been looking at the languishing share price with increasing concern, especially since I could see very little in the way of innovation to drive engagement and revenues.
Happily for me Microsoft have helped paint that square in the portfolio green rather than red. It will be interesting to see how they try and innovate within Microsoft. This is a big bet - even for Microsoft.
Now, would someone please have a dart at Twitter!....
Microsoft is buying the professional networking website LinkedIn for just over $26bn (£18bn) in cash. The software giant will pay $196 a share - a premium of almost 50%. Shares in LinkedIn, which floated in May 2011, have fallen by more than 40% this year. The stock plunged by a quarter in February after the company issued a profit warning for the first quarter and reported an annual loss of $8m. LinkedIn shares soared to $194.25 in pre-market trading in New York after the deal was announced.
