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Microsoft Corp. and LinkedIn Corporation on Monday announced they have entered into an agreement under which Microsoft will acquire LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion. (Wall Street Journal)
LinkedIn will retain its distinct brand, culture and independence. Jeff Weiner will remain CEO of LinkedIn, reporting to Satya Nadella, CEO of Microsoft. Reid Hoffman, chairman of the board, co-founder and controlling shareholder of LinkedIn, and Weiner both fully support this transaction. The transaction is expected to close this calendar year. (Hunt Scanlon Media)
LinkedIn has launched a variety of innovative new products recently, including LinkedIn Referrals, which seek to solve employers’ most critical sourcing dilemma: getting employees to participate in referral programs; and a redesigned version of LinkedIn Recruiter, which has simplified the search process for early career recruiters. (SHRM Online)
HR professionals use LinkedIn almost daily to check job candidates’ backgrounds. Those searches are not background checks, according to a court decision. Employers who use LinkedIn’s reference search function are not required to comply with Fair Credit Reporting Act (FCRA) requirements, the U.S. District Court for the Northern District of California ruled. The court dismissed a complaint alleging FCRA violations based on LinkedIn’s reference search function. The tool generates a list of individuals who previously worked with a job applicant. (SHRM Online)
Dana Wilkie is an online editor/manager for SHRM.
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