Microsoft (MSFT) - Get Microsoft Corporation Report says it has entered into an agreement to buy LinkedIn (LNKD) for $196 a share, or $26.2 billion in cash. As part of the deal, LinkedIn will retain its independence and CEO Jeff Weiner will remain in his current role. Weiner will now report to Satya Nadella. In a press release, Nadella said, '"Together we can accelerate the growth of LinkedIn, as well as Microsoft Office 365 and Dynamics as we seek to empower every person and organization on the planet.' For his part, Weiner said, 'For the last 13 years, we've been uniquely positioned to connect professionals to make them more productive and successful, and I'm looking forward to leading our team through the next chapter of our story.' The transaction has already been approved by the boards of both companies. The deal is expected to close this year.