US firms lead as Microsoft scoops up LinkedIn

Simpson Thacher & Bartlett and Wilson, Sonsini, Goodrich & Rosati both scored key roles on Microsoft's $26.6bn acquisition of LinkedIn, confirmed yesterday. The deal, valued at $196 per LinkedIn share, is one of the largest in Microsoft’s history. Simpson Thacher New York-based M&A co-head Alan Kline and partner Anthony Vernace led the team advising Microsoft on the acquisition, while LinkedIn enlisted a team from Wilson Sonsini, including M&A head Martin Korman and partners Brad Finkelstein, Katharine Martin and Doug Schnell. Simpson Thacher and Mr Kline are longstanding advisers to Microsoft, having previously worked on three smaller deals for the tech giant: the $7.2bn acquisition of Nokia’s phone business in 2013; the $8.5bn acquisition of video calling service Skype in 2011; and Microsoft’s 2012 investment in Barnes & Noble’s Nook business. Landmark deal  LinkedIn shares skyrocketed by around 50 per cent when news of the deal broke yesterday afternoon. The professional networking platform currently boasts around 433 million members worldwide, with 105 million unique member visits to the platform every month. Microsoft has confirmed that current LinkedIn chief executive Jeff Weiner will retain his position after the acquisition, reporting to Microsoft chief executive Satya Nadella. Source: globallegalpost.com