[bostonpete]

I thought "cost synergies" involved getting rid of redundancies -- e.g. we don't need to maintain two separate accounting organizations and can save a bunch of money by combining them.

Yes, that could involve layoffs, but what's the alternative? Do you think Microsoft (or any buyer) is going to keep around unnecessary personnel after an acquisition if they manage to get a lower price? I would assume they'd end up saving money on the acquisition and cutting personnel. Why would they do otherwise...?