June 13, 2008
Microsoft Drives Yahoo into Arms of Google
Microsoft's attempt to buy Yahoo drove Yahoo into an agreement with Google to share ad revenue. Google is, in essence, a white knight, a party that cuts a deal with a target of a hostile bid to foil the bidder. White knights do very, very well -- they pick up valuable at a discount. Warren Buffet's success in the 80s is strong testimony to this. The losers? The bidder and the target.
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