Discuss in general (without any calculation) whether Microsofts bid for Yahoo is justifiable (e.g., what the possible benefits to Microsoft from having Yahoo as a part of it are and whether the bid is too high, too low or about right given such potential benefits.)

Explain why the expansion of Sears, Roebuck & Co. into the financial services industry fails.

Explain how the acquisition of NCR by AT&T is value-destructing.