1. Using the motives for M&As, which do you think apply to Microsoft’s acquisition of Nokia? Discuss the logic underlying each motive you identify. Be specific. 
2. Speculate as to why Microsoft and Nokia initially decided to form a partnership rather than have Microsoft simply acquire Nokia? Why was the partnership unsuccessful? 
3. Speculate as to why Microsoft used cash rather than some other form of payment to acquire Nokia? Be specific. 
4. The Nokia takeover is an example of vertical integration. How does vertical integration differ from horizontal integration? How are the two businesses (software and hardware) the same and how are they different? What are the potential advantages and disadvantages of this vertical integration for Microsoft? Be specific. 

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