The so-called “bear hug” letter that Mr Ballmer sent to Yahoo!’s board on January 31st is a masterpiece, showing how far a bidder can go nowadays without formally declaring itself hostile.
Microsoft would have its work cut out fusing the two firms into a genuine competitor to the runaway market leader
Perhaps the biggest obstacle to the creation of Microhoo! is the antitrust authorities
But here is the twist. The only grounds on which a trustbuster could plausibly oppose Microsoft buying Yahoo!—that it is possible to exercise monopoly power in online search and advertising—surely apply even more strongly to Google
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