A new report claims Microsoft's final price to acquire LinkedIn was 22% more than planned, due to several competing bids from Salesforce.
In a filing made by LinkedIn late on Friday to the U.S. Securities and Exchange Commission, the business-themed social networking service stated that Microsoft originally offered LinkedIn a deal on May 4 that was worth $160 a share in cash. However, another company, referred to by LinkedIn as "Party A" in the SEC filing, had actually proposed a bid a few days earlier for between $160 and $165 a share in a cash-share deal.
The Wall Street Journal reports that "Party A" was in fact Salesforce:
Microsoft ended up on the winning side of the bidding battle, but it had to pay $196 a share to do so, or about $5 billion more than its original price. Microsoft agreed to pay $26.2 billion in cash for LinkedIn in mid-June, and the deal is expected to close by the end of 2016.
According to the site Recode there were two other parties also trying to buy LinkedIn with Party B being Google, and Party D being Facebook.
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