Microsoft announced it would buy social networking company LinkedIn for a smooth $26.2 billion in an all-cash deal. That took LinkedIn’s stock up 47 percent in trading.

The deal, Microsoft’s largest ever by a $20 billion long shot, would “accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics,” according to Microsoft CEO Satya Nadella. The deal was the sixth-largest tech merger and acquisition on record.

The following a merger or an acquisition (see Figure 31.5)?

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