Planned LinkedIn $1 billion stock offer is for expansion, products

The logo for LinkedIn Corporation, a social networking networking website for people in professional occupations, is shown in Mountain ViewBy Alexei Oreskovic SAN FRANCISCO (Reuters) – LinkedIn Corp said on Tuesday it will sell an additional $1 billion of its Class A common stock as the Internet company moves to bolster product development and perhaps make more acquisitions. LinkedIn shares, which have more than doubled this year, were down 2.3 percent at $240.49 in after hours trading on Tuesday following its announcement about the secondary share offering. LinkedIn, which had roughly $900 million in cash and short-term securities at the end of June, did not specify when the secondary offering would take place. …

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Planned LinkedIn $1 billion stock offer is for expansion, products

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