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Microsoft to buy LinkedIn for $26.2 billion

Microsoft Corp. said Monday it was buying professional networking website LinkedIn for $26.2 billion, sending LinkedIn stock market shares soaring.

Microsoft said it was paying $196 for each share of LinkedIn Corp., based in Mountain View, California. The news caused LinkedIn’s shares to rise 48 percent to $194, still well below its $270 per share peak in 2015.

The deal, which requires approval from regulators, is expected to close this year.

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