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30 September 2016
Cloud
computing company Salesforce is reportedly trying to block the $26.2 billion
Microsoft-LinkedIn deal, arguing that Microsoft's acquisition of the enterprise
social network LinkedIn will be anti-competitive. The Total Investment & Insurance Solutions
According
to a report in pcworld.com, Salesforce Chief Legal Officer Burke Norton will
take the company's argument to the European Union's anti-trust authorities.
"Microsoft's
proposed acquisition of LinkedIn threatens the future of innovation and
competition," Norton said in a statement. The Total Investment & Insurance Solutions
"By
gaining ownership of LinkedIn's unique dataset of over 450 million
professionals in more than 200 countries, Microsoft will be able to deny
competitors access to that data, and in doing so obtain an unfair competitive
advantage," Norton added.
Salesforce
- now rumoured to be in the race to buy micro-blogging website Twitter - was
also in the fray to acquire LinkedIn. The Total
Investment & Insurance Solutions
After
losing to Microsoft, Salesforce CEO Marc Benioff has showed his concerns over
the deal, urging the Federal Trade Commission to "scrutinise Microsoft's
plans for LinkedIn".
Microsoft
President Brad Smith, however, said "the deal has already been cleared to
close in the US, Canada, and Brazil," Wall Street Journal reported.
In
June, Microsoft announced to acquire LinkedIn in an all-cash deal, billed as
one of the largest such pacts in the global social media space.
LinkedIn,
which has nearly 10 per cent of its over 430 million users in India, will
retain its distinct brand, culture and independence and Jeff Weiner will remain
the chief executive of LinkedIn, reporting to his Indian-born Microsoft
counterpart Satya Nadella, the tech giant said in a statement. The Total Investment & Insurance Solutions
The
deal, expected to close within this year, works out to over $60 per LinkedIn
user.
Microsoft
will pay $196 per LinkedIn share -- a 50 per cent premium to LinkedIn's closing
price on June 10.The Total Investment & Insurance
Solutions
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