Microsoft is offering the European Commission the concessions it requested to clinch approval for the company’s $26-billion purchase of professional social network LinkedIn.
Microsoft’s acquiescence to the European Union’s anti-trust watchdog’s requests comes about a week after the regulator met with Microsoft executives to voice their concerns about the deal, Reuters is reporting.
Neither the Commission nor Microsoft would discuss the details of the proposed deal. The Commission, which will rule on the matter by Dec. 6, will first seek feedback from rivals and customers before deciding if it will accept Microsoft’s concessions. If it does not accept them, the Commission could demand more concessions or opt to embark on a full investigation.
Microsoft in June announced its intention to acquire LinkedIn for $26.2 billion in cash. The deal is Microsoft’s largest acquisition to-date, and would give the software king access to the professional social network’s 433 million members.
Microsoft has said LinkedIn would “retain its distinct brand, culture and independence” and CEO Jeff Weiner would remain the company’s leader, reporting only to Microsoft CEO Satya Nadella.
The acquisition has been unanimously approved by the Boards of Directors for both companies, but must be approved by regulators before becoming reality. The companies had hoped to receive the green light by year’s end.
Jennifer Cowan is the Managing Editor for SiteProNews.
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