[karakal]

How did Microsoft know A's offer when it submitted its counter offer?

May 9, 2016, Party A submitted a revised proposal to LinkedIn providing for an acquisition of LinkedIn for $171 per share of LinkedIn common stock, with half of the consideration in cash and half in Party A common stock.

On May 11, 2016, Microsoft submitted a revised proposal to acquire LinkedIn, which provided for an acquisition of LinkedIn for $172 in cash per share of LinkedIn common stock

[dibstern]

Parties are likely notified of other party's offers, unless the offer prohibits it, which LinkedIn likely wouldn't have accepted as it had a hot bidding war on its hands.