Microsoft Mergers and Acquisitions Presentation Deck
Transaction Overview
Structure
$196 per share, $26.2 billion enterprise value
▪ All cash consideration
Expected to close by the end of this calendar year
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Financing
▪ Purchase price to be financed primarily with new debt
Financial Impact
Minimally (~1%) dilutive to non-GAAP EPS in FY17 and FY18 based on expected close date
Accretive to Non-GAAP EPS in FY19 or less than two years post closing
Non-GAAP includes stock based compensation expense consistent with Microsoft's reporting practice, and excludes
expected impact of purchase accounting adjustments as well as integration and transaction related expenses
■ $150 million of cost synergies annually by 2018
Capital Return Program
▪ Previously announced share buyback program (~$10B remaining) will be completed on schedule
Financial Reporting
Currently expect to report results for LinkedIn post close in our Productivity and Business Processes segment
New KPIs will be finalized prior to close
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