If your workbook contains a link to data in a workbook or other file that was moved to another location, you can fix the link by updating the path of that source file. If you can't find or don't have access to the document that you originally linked to, you can prevent Excel from trying to update the link by turning off automatic updates or removing the link.
Important: linked object are not the same as hyperlinks. The following procedure will not fix broken hyperlinks. To learn more about hyperlinks, see Create or edit a hyperlink.
Caution: This action can't be undone. You might want to save a backup copy of the workbook before you begin this procedure.
, and then click each link.
When you break a link, all formulas that refer to the source file are converted to their current value. For example, if the formula =SUM([Budget.xls]Annual!C10:C25) results in 45, the formula would be converted to 45 after the link is broken.
, and then click each link.