Microsoft offers concessions on LinkedIn bid
Microsoft has reportedly offered concessions to EU antitrust regulators in a bid to finalise its $26.2bn acquisition of LinkedIn
Reuters reports that Microsoft executives have committed to putting together concessions to appease concerns over the bid expressed by EU regulator representatives in a meeting.
Last month, the Commission said: "On preliminary examination, the commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved." Yesterday, a European Commission spokesperson stated that it had “received a commitments proposal” from Microsoft and LinkedIn for the proposed merger. A new decision deadline is believed to be 6 December.
After beating off competition from Salesforce, the companies announced in mid-June that they had entered into a definitive agreement under which Microsoft would acquire LinkedIn for $196 per share in an all-cash transaction valued at £26.2 billion, inclusive of LinkedIn’s net cash.