Microsoft Offers EU Concessions on Planned LinkedIn Acquisition
The European Commission is expected to decide on the planned $26.2 billion deal by early December.
Microsoft has offered concessions to European Union antitrust regulators related to its proposed $26.2 billion acquisition of professional social networking firm LinkedIn, the European Commission said Wednesday without providing details.
The offer of concessions comes after EU competition officer Margrethe Vestager expressed concerns about the deal at a meeting with Microsoft executives last week, Reuters reported.
The Commission is expected to rule on the deal by Dec. 6 after gathering feedback from rivals and customers. It could accept the concessions, demand more or open a full investigation.
Microsoft declined to comment, Reuters said. The planned LinkedIn deal would be the software giant's largest acquisition ever.
Critics have suggested the acquisition could hurt innovation and reduce competition, with some also expressing concern about data privacy issues.
Under the planned deal, LinkedIn would keep its name and independence, with Jeff Weiner continuing as CEO.
LinkedIn was founded in 2003 and went public in 2011. This year, it aired its first-ever TV ad during the Oscar broadcast on ABC.