Mergers in the Air? Microsoft/Yahoo and Delta/Northwest

The ongoing takeover battle between Microsoft and Yahoo has taken several surprising turns over the past few weeks. After rejecting Microsoft’s unsolicited $44.6 billion offer in late February Yahoo has announced a two-week ad testing program with its main search rival Google and has reportedly entertained a possible merger with Time Warner’s AOL. Meanwhile Microsoft was rumored to be considering News Corp. as a possible ally in acquiring Yahoo. While spectators wait for the next twist in this saga another headline-making deal has been announced: a merger between Delta and Northwest Airlines to become the world’s largest airline. Knowledge at Wharton spoke with Wharton management professor Saikat Chaudhuri and Wharton legal studies and business ethics professor Kevin Werbach to find out whether these deals make sense and for whom.

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