diff --git a/src/wp-includes/js/tinymce/plugins/wordpress/plugin.js b/src/wp-includes/js/tinymce/plugins/wordpress/plugin.js
index 7a811404cd..3a6dc07bb6 100644
--- a/src/wp-includes/js/tinymce/plugins/wordpress/plugin.js
+++ b/src/wp-includes/js/tinymce/plugins/wordpress/plugin.js
@@ -885,7 +885,7 @@ tinymce.PluginManager.add( 'wordpress', function( editor ) {
 
 		function hide( event ) {
 			if ( activeToolbar ) {
-				if ( event.type === 'hide' ) {
+				if ( activeToolbar.tempHide || event.type === 'hide' ) {
 					activeToolbar.hide();
 					activeToolbar = false;
 				} else if ( ( event.type === 'resize' || event.type === 'scroll' ) && ! activeToolbar.blockHide ) {
diff --git a/src/wp-includes/js/tinymce/plugins/wplink/plugin.js b/src/wp-includes/js/tinymce/plugins/wplink/plugin.js
index fcad125f3f..14f46c94a1 100644
--- a/src/wp-includes/js/tinymce/plugins/wplink/plugin.js
+++ b/src/wp-includes/js/tinymce/plugins/wplink/plugin.js
@@ -223,13 +223,17 @@
 		} );
 
 		editor.addCommand( 'wp_link_cancel', function() {
-			inputInstance.reset();
-			removePlaceholders();
-			editor.focus();
-
-			if ( tinymce.isIE ) {
-				editor.selection.moveToBookmark( editor.windowManager.wplinkBookmark );
-				editor.windowManager.wplinkBookmark = null;
+			if ( ! editToolbar.tempHide ) {
+				inputInstance.reset();
+				removePlaceholders();
+				editor.focus();
+	
+				if ( tinymce.isIE ) {
+					editor.selection.moveToBookmark( editor.windowManager.wplinkBookmark );
+					editor.windowManager.wplinkBookmark = null;
+				}
+				
+				editToolbar.tempHide = false;
 			}
 		} );
 
@@ -285,8 +289,10 @@
 
 		// Prevent adding undo levels on inserting link placeholder.
 		editor.on( 'BeforeAddUndo', function( event ) {
-			if ( event.level.content ) {
-				event.level.content = removePlaceholderStrings( event.level.content );
+			if ( event.lastLevel && event.lastLevel.content && event.level.content &&
+				event.lastLevel.content === removePlaceholderStrings( event.level.content ) ) {
+
+				event.preventDefault();
 			}
 		});
 
@@ -388,9 +394,12 @@
 				$linkNode, href, edit;
 
 			if ( tinymce.$( document.body ).hasClass( 'modal-open' ) ) {
+				editToolbar.tempHide = true;
 				return;
 			}
 
+			editToolbar.tempHide = false;
+
 			if ( linkNode ) {
 				$linkNode = editor.$( linkNode );
 				href = $linkNode.attr( 'href' );
@@ -432,8 +441,10 @@
 					var url = inputInstance.getURL() || null,
 						text = inputInstance.getLinkText() || null;
 
-					editor.focus();
+					editor.focus(); // Needed for IE
 					window.wpLink.open( editor.id, url, text );
+
+					editToolbar.tempHide = true;
 					inputInstance.reset();
 				}
 			}
@@ -447,8 +458,9 @@
 		} );
 
 		return {
-			hideEditToolbar: function() {
-				editToolbar.hide();
+			close: function() {
+				editToolbar.tempHide = false;
+				editor.execCommand( 'wp_link_cancel' );
 			}
 		};
 	} );
diff --git a/src/wp-includes/js/wplink.js b/src/wp-includes/js/wplink.js
index 8e177cf276..d1f34dd1a9 100644
--- a/src/wp-includes/js/wplink.js
+++ b/src/wp-includes/js/wplink.js
@@ -244,11 +244,17 @@ var wpLink;
 		},
 
 		mceRefresh: function( url, text ) {
-			var linkNode = editor.dom.getParent( editor.selection.getNode(), 'a[href]' ),
+			var linkText,
+				linkNode = getLink(),
 				onlyText = this.hasSelectedText( linkNode );
 
 			if ( linkNode ) {
-				text = tinymce.trim( linkNode.innerText || linkNode.textContent ) || text;
+				linkText = linkNode.innerText || linkNode.textContent;
+
+				if ( ! tinymce.trim( linkText ) ) {
+					linkText = text || '';
+				}
+
 				url = url || editor.dom.getAttrib( linkNode, 'href' );
 
 				if ( url === '_wp_link_placeholder' ) {
@@ -264,7 +270,7 @@ var wpLink;
 			}
 
 			if ( onlyText ) {
-				inputs.text.val( text || '' );
+				inputs.text.val( linkText || '' );
 				inputs.wrap.addClass( 'has-text-field' );
 			} else {
 				inputs.text.val( '' );
@@ -283,7 +289,10 @@ var wpLink;
 					wpLink.range.select();
 				}
 			} else {
-				editor.plugins.wplink.hideEditToolbar();
+				if ( editor.plugins.wplink ) {
+					editor.plugins.wplink.close();
+				}
+
 				editor.focus();
 			}