LinkedIn's stock still down sharply this year despite buyout deal
LinkedIn Corp.'s stock soared 47% in morning trade Monday, in the wake of a deal to be acquired by Microsoft Corp. , but was still down 14% year to date. Microsoft's per-share bid for LinkedIn of $196 was nearly double the 3 1/2-year closing low of $100.98 hit on Feb. 9, 2016, and 28% below the all-time closing high of $270.76 reached on Feb. 26, 2015. The per-share bid was more than four times LinkedIn's initial public offering price of $45; the company went public on May 19, 2011.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.