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LinkedIn asks shareholders to approve Microsoft deal

LinkedIn urging its stockholders to approve the company's planned sale to

Microsoft in June agreedto buy LinkedIn for$196 per share in an all-cash deal valued at $26.2 billion, inclusive of LinkedIn'snet cash in June. The professional social networking companywill retain its brand and independence following the deal's completion. LinkedInwill continue to be led by its CEO Jeff Weiner.

LinkedIn's special stockholders meeting is scheduled for Aug.19, according to a July 22 SEC filing.